Uganda Clays Limited has announced a loss of UGX88 million for the 2019 calendar year, ending a short spell at returning profit. The construction materials maker said today that its gross profit dropped drastically from a UGX1.9 billion profit recorded in 2018. The announcement will come as a disappointment to shareholders who had hoped that after many years of turning in losses, the company had finally turned around the clock with a marginal profit in 2017 and 2018. Uganda Clays attributes the drop to machine breakdown at the Kamonkoli plant in Budaka district, in Eastern Uganda, during the annual maintenance…
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