Cemex Philippines sees 2H acceleration

Cemex Holdings Philippines Inc is optimistic that its sales volumes will recover from the subdued first quarter and grow by three per cent by the end of the year from the 5.1Mt of cement it sold in 2016, the Manila Bulletin reports.

In an interview after the firm's annual stockholders' meeting, Cemex Vice President for Communications, Marketing and Investor Relations, Paul Vincent Arcenas, said they expect a rebound in sales volume in the second half of the year.

"The second half is (expected to grow) 11 per cent compared to the second half last year. Bearing in mind that, in the second half last year, there was no more election and spending had slowed down so it's a lower base. Unless there's some big typhoons in the second half of this year, I think we can do the 11 per cent," said Mr Arcenas.

Cemex reported that the domestic cement sales volume declined 8.6 per cent for the period due to adverse weather conditions that persisted from last year into January and February.

It also blamed the high base of comparison which was marked by strong construction activity prior to the 2016 elections.

Mr Arcenas said Cemex is now preparing for the expansion of its Solid Cement facility in Antipolo to double its capacity to 3Mt from the existing 1.5Mt. Last month it signed a contract with CBMI of China for construction of the new line.