Lafarge Philippines benefits from strong cement demand

Lafarge Philippines benefits from strong cement demand
22 August 2013

Domestic cement demand in the 1H13 has seen a sharp rise in the Philippines as sales have jumped by 6.2 per cent compared to the same period in 2012.

“The continued increased in infrastructure and other construction projects launched by the government such as farm-to-market, roads coupled with sustained demand from the private and commercial sector, contributed to the growth,” said Lafarge Republic.

The budget department reports that state spending on public works and infrastructure has had a marked effect with government investment rising steeply to 42.13 per cent or to PHP125.5bn (US$2.84bn) in the 1H13 from PHP88.3bn a year ago.

Lafarge Republic saw net income grow by 76.85 per cent to PHP1.36bn in April-June 2013 from PHP769.42m in the same period last year.

The rise in cement demand was also witnessed by Holcim Philippines Inc that last week recorded a profit of PHP3.05bn for 1H13, a rise of 51.74 per cent on 1H12. Holcim has also said that it is to build a 2Mta greenfield plant at Bulacan to come online in 2016.

Published under Cement News