UGANDA, Kajjansi | Real Muloodi News | During the Uganda Clays Annual General Meeting, the board of directors revealed a reversal of fortunes from the 1.4 billion-shilling loss recorded last year. The sales of Uganda Clays Limited (UCL) grew by 34 per cent in the first half of this year.
While presenting the financial results of the first half of the year at Uganda Clays’ Annual General Meeting, Managing Director Reuben Tumwebaze said, “Despite a challenging first half of the year, mainly because of Covid-19, Uganda Clays showed resilience, producing positive results as highlighted by the first six months of the year.”
The company brought in 17 billion shillings in sales, up from 13 billion shillings from the same period last year.
Martin Kasekende, the chairperson of the Board of Directors, said they believed this was not a one-off excellent performance, as the company was well and truly on a trajectory of growth and profitability.
Uganda Clays increased its production of roof tiles from 500,000 units per month to 950,000 tiles per month. The rise came thanks to improved production rates at Uganda Clays’ Kajjansi and Kamonkoli factories.
Tumwebaze said that these factories would continue to increase their production capacity to make 1.8 million tiles per month in Kajjansi and 10-15 million tiles in Kamonkoli by 2022.
“We have also made significant strides towards a commitment to implement a robust strategy in the current economic environment,” Tumwebaze added.
The company also upped its exports to South Sudan and Kenya during the first half of the year.
Uganda Clays’ gross profit rose by 190 per cent in the first half of 2021, from 2.5 billion shillings to 7.4 billion shillings because of the processes in place to manage costs and boost efficiency.
Total revenue was up by 34 per cent, amounting to 17.5 billion shillings. In the same period last year, the company earned 13 billion shillings.
About Uganda Clays
Uganda Clays is Uganda’s largest maker of high-quality baked clay building materials. It provides construction materials in a brick-red colour using state-of-the-art kilns. Roofing tiles, bricks, maxpans, quarry floor tiles, and other items are available from the firm.
UCL has factories in Kajjansi and Kamonkoli (eastern Uganda). The activities in the Kajjansi facility are primarily manual, but those at Kamonkoli are fully automated. Coffee husks, which are obtained locally, fuel the two kilns at Kajjansi. Operations at Kamonkoli were also switched from furnace oil to coffee husks to minimize production expenses.
READ MORE LIKE THIS: