Eagle Cement records 3% net profit increase

Philippines-based Eagle Cement Corp has recorded a three per cent YoY increase in net profit to PHP1.1bn (US$21.29m) for the first quarter of the year. Revenue has risen six per cent YoY to PHP4bn in the same period, according to The Philippine Inquirer.

Eagle Cement attributed the performance to "long standing cost-effective and efficient production grounded on owning the country’s most-modern end-to-end cement manufacturing plant."

"We remain confident about the future as private consumption continues to drive our economy coupled with the infrastructure boom. We are constantly looking at opportunities to grow the company, at the same time continuously manage costs to maintain our competitiveness," said Paul Ang, president and CEO, Eagle Cement.