Caribbean Cement sees sales increase 11% in 9M20

Caribbean Cement sees sales increase 11% in 9M20
28 October 2020

Jamaica’s Caribbean Cement has seen its sales rise 11.1 per cent YoY to JMD15bn (US$102.8m) in the 9M20, compared to JMD13.5bn in the year-ago period. The company’s gross profit of JMD7bn from the first nine months of this year equates to what the company made in the full-year 2019 period, according to the Jamaica Gleaner. 

In the third quarter of 2020, the company saw profits reach JMD1.2bn from JMD5.8bn of revenue. This compares to the JMD77m profit in the 3Q19 from sales of JMD4.4bn.

“This solid operating result is attributable to higher volumes sold, prudent cost containment measures and operational efficiencies that have allowed us to keep operational costs and expense in check, despite the increased rate of production,” the company stated in its earnings report.

Published under Cement News