Trinidad Cement posts 3% decline in revenue

Trinidad Cement Ltd (TCL) has recorded a three per cent YoY decline in revenue to TTD467m (US$68.93m) during the third quarter of 2021.

"Revenue for the quarter was mainly impacted by reduced cement sales attributable to adverse weather in Jamaica. On a year-to-date basis, the TCL Group recorded consolidated revenue from continuing operations of TTD1.4bn, 12 per cent higher than the same period in 2020," said the group.

TCL also reported a net income of TTD60.6m in the first nine months of the year, up 24 per cent compared to the year-ago period. The increase was attributed to a 36 per cent reduction in financial expenses.