Holcim Philippines 3Q profits up 15%

Holcim Philippines 3Q profits up 15%
27 October 2016

Holcim Philippines increased its net profit for 9M16 by nearly 20 per cent YoY to PHP5.4bn (US$111.8m), helped by a double-digit growth in cement sales. For the 3Q alone, the company's net profit rose by 15.3 per cent YoY to PHP1.7bn, which was attributed to strong sales figures and improved operational efficiency.

For the 3Q operating cash flow increased by 11 per cent YoY to PHP2.7bn, driven by sustained gains in operational efficiencies implemented at the start of the year and higher cement sales that led to revenues of PHP9.9bn for the period.

For the January-September period, cash flow increased 16.6 per cent YoY to PHP8.5bn. Higher cement sales produced a 10 per cent rise in revenues to PHP30.8bn.

Commenting on the positive result, Holcim Philippines said, "The overall cement demand was fuelled by the government’s increased infrastructure investments and the private sector’s rollout of projects amid a healthy economy." The press release went on to say that the company "has implemented projects to increase its annual cement production capacity to 10Mta up from 8Mta, and has introduced a range of innovative construction solutions to the market."

Published under Cement News