Porters Wheel Slowing Down on USE as Clay Company’s Share Price Drops!

By Published On: July 12th, 2018Categories: Articles

Investors are very upset and nervous. Something has to change or else the company’s value will plummet back to the mud! A different strategy urgently required.

 

In a period of only three months, shares of Uganda Clays Limited, (UCL) have lost market value by Shs8.1b.
The share price, according to market statistics from the Uganda Securities Exchange (USE) indicate that Uganda Clays’ share price has dropped from Shs29 in April to Shs20 in June.
The drop has resulted into a decline in market capitalisation, which stood at Shs26.1b in April, a Shs8.1b difference from June, when it was at Shs18b.

UCL, which listed 900m ordinary shares in 2000 has had a turn of bad luck over the years, failing to make a profit.
However, the company has in the last two years returned to probability.
In 2017, Uganda Clays registered a profit after tax of Shs2.39b and grew its revenues by 4.5 per cent to Shs27.20b up from Shs26b in 2016

 However, according to Ms Barbara Akello, a stock broker at African alliance, while the share price has dropped in the past three months, it’s should not cause of alarm as the sales are a matter of demand and supply.

“Since it is been small volumes, they could be looking to make some money and it is why they are selling. At the moment, buyers are dictating the price, and not the sellers. Buyers have been bidding at low prices which the sellers have also taken,” she said…

View the Uganda Clays’ Page

Read complete article: Monitor

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Uganda Clays Limited (UCL.ug)

Share price: 15.00 Shillings (0.00 | 0.00% – 22/03/23)

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