Quality Chemical Industries Limited (Qcil) has issued a profit warning, announcing that its profit after tax for the half year ended 30 September 2026 is anticipated to be at least 25% lower than the previous year's corresponding period. This information was disclosed by the Board of Directors through a preliminary review of the unaudited management accounts.
The decrease in profit is attributed primarily to a one-off accounting entry related to a capital gains tax dispute with the Uganda Revenue Authority, which was resolved unfavorably for Qcil. This entry is non-recurring and does not stem from the company's core business operations. Despite this setback, the Board and Management emphasize their commitment to maintaining focus on the company's operations and strive to deliver sustainable long-term value to shareholders.
Shareholders and investors are urged to exercise caution when dealing with the company's shares. The interim financial results for the half year ended 30 September 2026 are set to be published in accordance with the timelines outlined by the Uganda Securities Exchange Listing Rules. According to information available from the Uganda Securities Exchange (USE), this announcement complies with Rule 38(3) of the Uganda Securities Exchange Listing Rules 2025.
This development is situated within the designated market category of the Uganda Securities Exchange, impacting stakeholders interested in the financial health and regulatory compliance of listed entities such as Qcil.