How New Vision missed its own set target

What the report says

New Vision Printing and Publishing Company has warned shareholders that it expects to record another annual loss for the financial year ending June 30, 2026, according to The Independent Uganda. The warning undercuts management’s earlier projection that the company would return to profit after several years of losses.

The Kampala-based media group, Uganda’s largest, said the outlook has been hurt by a difficult business environment. Chief Executive Officer Don Wanyama pointed to falling newspaper sales, softer advertising income and higher production and operating costs. The company had previously told shareholders it expected stronger revenue growth, helped by commercial printing, digital investments and political advertising ahead of Uganda’s 2026 general election.

The report says the setback follows a brief half-year improvement that was driven mainly by lower costs rather than stronger sales. It also notes that New Vision continues to face structural pressure from declining print circulation and weaker traditional advertising, even as digital revenue grows. The company’s cost-to-income ratio remains high, suggesting expenses still exceed income.

The Independent Uganda adds that government, which holds a controlling stake, has already supported the firm through advertising and a capital injection. New Vision is due to present audited results at its annual general meeting in August, where shareholders are expected to receive a fuller explanation of the loss and the company’s recovery plan.