Eagle Cement records net profit increase in 2018

Philippines-based Eagle Cement Corp has recorded a 13 per cent YoY rise in net profit to PHP4.8bn (US$91.98m) in 2018, on the back of a double-digit expansion in sales volume. Net sales advanced 11 per cent YoY to PHP16.5bn for the full-year period. 

In the 4Q18, the company’s net income surged 36 per cent YoY to PHP1.3bn while sales increased 19 per cent to a quarterly record of PHP4.3bn. 

"While we are faced with challenges in the industry, we remain steadfast to expand the company to meet the increasing local demand for cement, driven by the thriving property sector, growth in consumption, as well as the anticipated roll out of government’s infrastructure projects," said Paul Ang, president and CEO, in a disclosure to the Philippine Stock Exchange.

"We expect the momentum to continue, as Eagle sets the stage for the next cycle of growth for the company. We seek to continue to invest in expanding our market reach to become a nationwide player," added Mr Ang.