Carib Cement posts J$431m loss

Carib Cement posts J$431m loss
Published: 04 November 2009

The continued slowdown in activity within the Jamaican construction sector has seen Caribbean Cement Company registered a J$431m (US$4.88m) pre-tax loss during the three months ending September 30, blaming the results on the continuing contraction in the Jamaican economy and the resultant decline in market demand for cement

During the three months to September 30, 2009, Carib Cement sold 152,280t of cement into the local market compared to 165,806t in the comparative period last year. Cement and clinker exports rose, however, from 9,342 tonnes to 21,163 tonnes and from zero to 8,128 tonnes, respectively.

This did not translate into an increase in sales, which for the review period was down 1.3 per cent to $1.99 billion, when compared to the comparative period last year.