Uganda Clays suspends dividends, cuts payroll, and renegotiates loans amid 20% earnings drop and net loss in 2023.

Uganda Clays, a roofing tiles manufacturer, suspends dividend payouts, reduces payroll, and renegotiates loans due to weakened cash flow from falling revenues and rising debt repayment costs. The company's earnings dropped 20% in 2023, resulting in a net loss of 2.8 billion shillings. Despite financial challenges, Managing Director Ruben Twebaze assures shareholders that revenues will improve as new equipment comes into full production.

June 22, 2024
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