Holcim Philippines 1H14 net profit up on strong sales

Holcim Philippines booked a net profit of PHP3.32bn (US76.5m) in the first half of 2014, up 8.7 per cent compared to the same period of last year.

The country’s largest cement producer registered record sales as construction activity went into full swing during the summer months. Second-quarter revenues rose YoY by 8.5 per cent to PHP1.8bn.

“On top of the sustained government and private sector spending, we now see some major Private-Public Partnership projects being implemented in the metropolis, hence, our strong sales,” said Holcim Philippines CEO Eduardo Sahagun.

Going forward, Mr Sahagun said the company’s focus will shift to completing the regular maintenance of its plants safely, on time, and within budgeted costs.