Holcim Philippines boosted by higher demand

Holcim Philippines has reported a 34.2 per cent increase in third-quarter earnings driven by stronger sales revenue and cost-cutting and efficiency improvement measures.

Net sales in the July-September quarter rose by more than seven per cent to PHP6.86bn on the back of steady demand and prices as private and public sector projects remained strong. Holcim country CEO, Eduardo Sahagun, said that the robust construction activity had led demand to exceed expectations in the third quarter.

The company also said the third quarter rise in earnings was  “helped by the company’s continuing revenue growth, cost management efforts and efficiency initiatives.” It has recently completed scheduled maintenance. The company’s plants in La Union and Misamis Oriental will also have higher production capacities as efficiency-enhancing projects were implemented during the maintenance breaks.

Nine-month income for Holcim Philippines also surged by 48 per cent to PHP3.74bn from PHP2.52bn last year. Its revenues increased nearly 10 per cent to PHP22.14bn from PHP20.21bn.