Eagle Cement Corp achieve PHP1.59bn net profit in 1Q19

Eagle Cement Corp reported a net profit of PHP1.59bn (US$30.6m) in 1Q19. This was a rise of 49 per cent YoY driven by a double-digit growth in sales volumes and higher cement selling prices.

Eagle Cement's net sales in the first quarter amounted to PHP5.37bn, up by 34 per cent in the same period last year, the company told the Philippine Stock Exchange. The "strong domestic demand driven by private consumption," the report said.

Net income margin improved to 30 per cent from around 27 per cent in the same period last year. Bulk cement sales rose to 81 per cent and bagged sales made up  the remaining 19 per cent of sales.