Holcim Philippines reports double-digit rise in net profit

Holcim Philippines reports double-digit rise in net profit
Published: 30 October 2015

Tagged Under: Holcim Philippines Results 

Holcim Philippines’ profits for the nine months of 2015 grew by 12.67 per cent to PHP4.55bn (US$97.2m) from PHP4.04bn last year. Sales reached PHP27.99bn, up 9.44 per cent from a year earlier.

Cement demand was healthy nationwide and strongest in the Visayas and Mindanao, driven by both private and public sector demand.

Holcim Philippines Country CEO Eduardo A. Sahagun said the company’s third quarter results were made possible by the improved performance of the plants, which can now operate longer before maintenance activities.

“Demand usually dips during the rainy season but this time, we experienced even stronger demand in the third quarter. Under these conditions, it is critical to sustain operations to support the market and we did so due to the steady investments for better plant performance,” he said.

Sahagun said logistics operations also improved with more flexibility to supply the National Capital Region through its newly acquired Holcim Manila Terminal.