Clays To Top Sh1b In Profit
Uganda Clays Limited, leading makers of roofing tiles based at Kajjansi, expect to make over sh1b in profits this year for the first time ever.
By Mikaili Sseppuya
Uganda Clays Limited, leading makers of roofing tiles based at Kajjansi, expect to make over sh1b in profits this year for the first time ever.
The value of UCL shares has meanwhile gone up by 17%, since December 2000, when they were first offered to the public on the Uganda Securities Exchange (USE).
Professor John Ssenfuma, the UCl chairman, said during a news conference to mark the paying out of interim dividends to major shareholders on Friday, “This financial year we hope to surpass the sh1b mark in operating profits for the first time ever. Because of the high standards of transparency required of a listed company, we are more efficient and our profits are going up steadily.â€
He promised that UCL would continue to pay out interim dividends in future. This had not been the case until now. Dividends are cash payments from profits to shareholders, proportional to their ownership stake in a company.
“We are now paying interim dividends, which was not the case in the past. As I promised to the shareholders in May, we intend to do this regularly. The company’s share prices have risen by almost 17% since the initial offer in December 2000†he said at Africana Hotel in Kampala.
He explained that UCL had a duty to show Ugandans that it pays to buy shares in companies on the stock exchange and that it is an advantage to be a listed company. UCL was the first company to be listed on the USE.
UCL Directors Lyelmoi Ongaba and Andrew Ssemwanga received dividend cheques of sh56m and sh37m, respectfully for the National Social Security Fund and National Insurance Corporation. The NSSF is the biggest shareholder in UCL.
Ssenfuma welcomed Kenya Clay Products company, which had purchased the 125,000 shares of the White Tower Corporation of Switzerland amounting to 25% of the total UCL shares and were due to receive sh53m.
John Wafula, the UCL Chief Executive Officer pointed out that Ongaba and Ssemwanga were good insurance in ensuring that UCL got the best of both worlds as definitely had its best interests at heart.
During the past two years, UCL has modenised its production facilities to cope with higher demand. Ends
FIRST TIME: Ssenfuma
Uganda Clays Limited, leading makers of roofing tiles based at Kajjansi, expect to make over sh1b in profits this year for the first time ever.
The value of UCL shares has meanwhile gone up by 17%, since December 2000, when they were first offered to the public on the Uganda Securities Exchange (USE).
Professor John Ssenfuma, the UCl chairman, said during a news conference to mark the paying out of interim dividends to major shareholders on Friday, “This financial year we hope to surpass the sh1b mark in operating profits for the first time ever. Because of the high standards of transparency required of a listed company, we are more efficient and our profits are going up steadily.â€
He promised that UCL would continue to pay out interim dividends in future. This had not been the case until now. Dividends are cash payments from profits to shareholders, proportional to their ownership stake in a company.
“We are now paying interim dividends, which was not the case in the past. As I promised to the shareholders in May, we intend to do this regularly. The company’s share prices have risen by almost 17% since the initial offer in December 2000†he said at Africana Hotel in Kampala.
He explained that UCL had a duty to show Ugandans that it pays to buy shares in companies on the stock exchange and that it is an advantage to be a listed company. UCL was the first company to be listed on the USE.
UCL Directors Lyelmoi Ongaba and Andrew Ssemwanga received dividend cheques of sh56m and sh37m, respectfully for the National Social Security Fund and National Insurance Corporation. The NSSF is the biggest shareholder in UCL.
Ssenfuma welcomed Kenya Clay Products company, which had purchased the 125,000 shares of the White Tower Corporation of Switzerland amounting to 25% of the total UCL shares and were due to receive sh53m.
John Wafula, the UCL Chief Executive Officer pointed out that Ongaba and Ssemwanga were good insurance in ensuring that UCL got the best of both worlds as definitely had its best interests at heart.
During the past two years, UCL has modenised its production facilities to cope with higher demand. Ends
FIRST TIME: Ssenfuma