St Lawrence cement group 2Q sales C$360.4m

St Lawrence Cement Group Inc’s sales rose 10.3% in the second quarter but the company wasn’t profitable due to the recording of a big writedown related to the abandoned Greenport, NY replacement cement plant project. 
 
As reported, the project wasn’t approved by New York state authorities.
 
In a news release, St Lawrence Cement said sales were C$360.4m, up from C$326.8m, a year ago. The increase reflects strong activity in the company’s construction business, growth in aggregates sales volumes and price increases in all markets and product lines during the quarter.
 
These factors more than offset a slight decline in sales volumes of cementitious products, as well as a negative impact of about C$9.7m on US sales when reported in Canadian currency due to the YoY appreciation of the Canadian dollar, the company said.