Kampala: Uganda Clays Limited (UCL), the leading manufacturer of quality baked clay building products, has today announced that the company posted impressive results for the year 2021 with a net profit of UGX 5.92 billion.
This was announced by the UCL Board Director, Marion Muyobo, during the entity’s financial year results presentation at their Kajjansi factory in Kampala.
Mrs. Muyobo said that the impressive performance was a result of the company’s commitment to implementing a robust strategy in the current economic environment.
Reuben B Tumwebaze, UCL Managing Director, re-echoed the entity’s strong performance, saying, “Despite the year being marked by unpredictable market conditions, the company has delivered better results than 2020. We have improved and continue to improve our safety record, increased our distribution channels within the country and made excellent progress with our major projects.”
Performance highlights
Total Revenue increased by 24% to UGX 36.7 billion for the period compared to UGX 29.7 billion in the year 2020, notably due to improved efficiencies in production and an increase in sales volume.
Gross profit increased by 27% to UGX 17.2 billion from UGX 13.5 billion in 2020.
Operating costs increased by 28% to UGX 12.1 billion from UGX 9.4 billion driven by increased funding of company operating expenditure initiatives for the period.
As a result, profit after tax for the period increased by 21% to UGX 5.9 billion from UGX 4.9 billion in 2020.
Total Assets increased by 18% to UGX 74.5 billion, mainly attributable to the purchase of clay deposits and deliberate investment in the two plants at Kajjansi and Kamonkoli.
About Uganda Clays Limited
Established in 1950, Uganda Clays Limited (UCL) is a leading manufacturer of quality baked clay building products in Uganda and uses state-of-the-art kilns to provide building materials.
The company’s products are categorized into roofing tiles, bricks, maxpans, quarry floor tiles, and others.
UCL operates two plants in Kajjansi and Kamonkoli (eastern Uganda) with sales outlets spread out within the country.
The company is listed on the Uganda Securities Exchange (USE), being the first equity to list on the exchange in 2020.