Holcim (Philippines) Inc’s first quarter net profit jumped 174 per cent YoY to PHP475.9m, driven by higher sales.
Holcim said net sales for the period rose 18.9 per cent to PHP4.15bn pesos as domestic demand for cement grew 14 per cent.
In a statement to the stock exchange, Holcim said its operating profit rose 51 per cent to PHP913m.
Operating expenses on the other hand, rose 20.3 per cent to PHP318.6m.
Holcim (Philippines) is 51 per cent-owned by Cemco Holdings Inc, in which Switzerland’s Holcim Ltd has a 40 per cent stake.