Inholo (2-L) rings the bell to officially mark 20 years of UCL trading at the USE. The company plans to rely on innovation to come up with new products Kampala, Uganda | JULIUS BUSINGE | Uganda Clays Limited, a clay building materials manufacturer located at Kajjansi, approximately 20kilometres from Kampala City Centre, along Entebbe Road, celebrated its 20 years of trading at the Nakawa based bourse on Jan.20 with lots of fun.
The fanfare event that took place at the Uganda Securities Exchange also provided an opportunity for the firm to reflect on its past achievements and hint on future opportunities.
The USE Chief Executive Officer, Paul Bwiso, said UCL’s bold step to list on the stock market in 2000 motivated other companies to go to the bourse to mobilise capital.
Showcasing the company’s performance on the bourse over the last 10 years, the stock market boss revealed that UCL has recorded turnover of Shs4.6bn out of the Shs1.4tn total turnover traded on the entire market during the period.
He said the shares traded for the same period stands at 176 million for the UCL counter compared to the general market trading of 10.3bn shares.
In terms of share price, for the last 10 years, the lowest share price has been Shs9 against the highest Shs29.
Equally, Jacqueline Kiwanuka, the chief finance officer at UCL said the company’s move to trade on the USE has enhanced its openness and transparency in the way it does its business in addition to giving the public a chance to own part of the company. UCL was the first company to list on the USE.
This development comes a few months to the release of its financial performance for the year ending Dec.31, 2019.
The company recorded an increase in total revenue from Shs27bn in 2017 to Shs30bn in 2018, according to its financial statement released last year.
However, its gross profit remained flat at Shs10.6bn as net profits sharply dropped from Shs2.3bn in 2017 to Shs1.9bn in 2018.
The drop in profit after tax revenue, according to the company’s top executives, was largely as a result of costs related to off season of coffee husks and increase in fuel prices in the period leading to the increase in cost of distribution.There was also a 9% increase in the total overheads due to incentives of transport to agents and corporate customers. Innovations for growth In a bid to stir business growth, the company’s […]
