Caribbean Cement reports 2% revenue increase

 Caribbean Cement reports 2% revenue increase
30 April 2020

Jamaica-based Caribbean Cement reported a modest two per cent YoY improvement in revenue to JMD4.54bn (US$33.49m) for the first quarter of 2020. However, overall consolidated net income decreased 57 per cent YoY to JMD500m.

The company also noted that it had implemented protocols to protect employees while also serving requirements and protecting cash flows during the COVID-19 pandemic.

"We are following government regulations, while working to minimise, as much as possible, the impact on our business and on our ability to serve our customers. Our action plans are therefore focused on maximising the protection of our employees while fostering operational resilience," said the company.

It is also developing contingency plans to prepare for the possibility of extensions to the current shutdown.

Published under Cement News