Eagle Cement Corp grows net profits by 5%

Philippine-based Eagle Cement Corp grew its net profit by five per cent YoY to PHP2.3bn (US$43.3m) in the 1H18 with higher sales volume compensating for lower selling prices.
 The company's first-half net sales rose by some 10 per cent YoY to PHP8.21bn. Gross profit margin was maintained at 48 per cent.

Cash flow as measured by earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by five per cent during the period, translating into an EBITDA margin of 43 per cent. As of end-June, Eagle’s total assets amounted to PHP43bn.

For the second quarter alone, Eagle posted net sales of PHP4.2bn, 14 per cent higher from a year ago. Net profit rose by six per cent YoY to PHP1.26bn.

"As we strengthen our brand and increase our sales capacity, we remain focussed on achieving our cost synergy and productivity targets with the use of the most efficient and energy saving cement manufacturing technology," Eagle President and CEO, Paul Ang said.