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When Reuben Tumwebaze assumed the reins of Uganda Clays (UCL) in March 2021, he walked into a company weighed down by its past. Once a market leader with deep roots in the construction sector, UCL was struggling. It faced a drop in market presence, hobbled by old equipment, bloated costs, poor governance, and slow response in a fast-modernising sector. Tumwebaze, with his engineering background, financial expertise, and infrastructure reform, brought not only hope but a plan to reinvent UCL. For a moment, the promise seemed to work. By the end of 2021, UCL had posted its highest profit in over…
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2022⏤ the 4th year in the 5-year 2019-2023 Corporate Strategic Plan of Uganda Clays Limited (UCL), was by all means a tough year. Not only did Uganda’s oldest and largest clay building products maker’s revenue remain flat⏤ UGX36.6 billion, versus UGX36.7 billion in 2021, but this was UGX8.4 billion or 19% below the UGX45 billion target. Due to an increase in the cost of sales by 12% to UGX 21.9 billion, from UGX 19.4 billion in 2021, profits also fell 2.5 times to UGX2.9 billion, from UGX5.9 billion the previous year. As a result, shareholders had to take home only…
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The Directors of Uganda Clays Ltd have announced the condensed financial statements for the year ended 31 December 2021 indicating a steep growth of revenue despite Covid-19 challenges. In an extract from the audited financial statements, the company managed to increase profits by 24% to UGX 36.7 billion compared to UCK UGX 29.7 billion in the year 2020, notably due to improved efficiencies in production and a change in the sales mode to the use of agents to reach more customers across the country. The statement signed by Eng Martin Kasekende, Board Chair and Reuben Tumwebaze, Managing Director reveals that…
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Cost management initiatives, resulting in a decrease in production costs saw Uganda Clays Limited register an impressive UGX4.9 Billion in 2020, bouncing back from an UGX88 million loss in 2019. This is contained in the Company financial statement for the year ended 31st December 2020. “The year 2020 was unprecedented because of the impact of the Covid-19 pandemic on most businesses. Despite the tough times, the company’s business continued to show resilience but was not immune to the impact of the Covid-19 pandemic. Our main focus was maintaining production to build inventory and employee safety,” company statement says in part…
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Uganda Clays Limited has appointed Reuben Tumwebaze as the new managing director In a notice, Eng Martin Kasekende, the board chairperson says: “Uganda Clays Limited (the Company) wishes to inform its shareholders and the general Public that the Board of Directors has appointed Mr Reuben B. Tumwebaze as the new Managing Director of the Company with effective from March 2021. “Before joining Uganda Clays Ltd, Mr Tumwebaze was the Director of Road Infrastructure Protection at Uganda National Roads Authority. He has a wealth of experience at management level in a number of manufacturing companies including Hima Cement Limited and Century…
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