Trinidad Cement Limited sees revenue up 4% but 20% EBITDA cut
For the six months ended 30 June 2011 Trinidad Cement Limited (TCL) reported a loss per share (LPS) of JMD0.59 (from continuing operations) which compares with an LPS of JMD0.28 (from continuing operations) for 1H2011.
TCL's revenue was up 3.9 per cent but reported earnings before interest, tax and depreciation (EBITDA) of JMD33.9m (US$381,413) a 20 per cent decline YoY. EBITDA was significantly affected by the general labour strike at the Trinidad plant, which persisted for three months. At a higher cost to the group, cement and clinker were imported to fulfil the needs of the domestic market. Simultaneously, the Jamaica and Barbados facilities were also unable to achieve expected production levels.