Holcim Philippines net profit surges 58% YoY

Holcim Philippines Inc said Wednesday net profit in 2015 surged 58 per cent YoY to PHP8.1bn (US$171m) on strong sales and a large one-off gain on investment.

The company said it booked a PHP2.6bn advance from the revaluation of an investment in an affiliate while revenue rose 15 per cent to PHP37.5bn due to increased government spending in infrastructure projects and higher construction activity.

Holcim Philippines Inc has an estimated cement capacity of 8.6Mta. It is also investing US$350-400m in a 2Mta brownfield integrated cement plant at Bulacan to be completed this year. This investment is expected to enable the company to regain its leading market share.