Caribbean Cement sees revenue advance in 1H23

Caribbean Cement Co Ltd has reported consolidated unaudited revenue of JMD14,277m (US$92.48m) in the first half of 2023. This compares to JMD13,516m in the same period a year earlier. Gross profit in the 1H23 came in at JMD4986m, down from the JMD6102m seen in the opening six months of 2022.

The total cost of sales and operating earnings has advanced from JMD8763m in the 1H22 to JMD10,677m in the same period a year later. Over the same timeframe, operating earnings before other income and other expenses contracted from JMD4753m to JMD3599m.

The three months from April to June 2023 saw revenue of JMD7475m, up from the JMD6702m reported in the same period in 2022. Total cost of sales and operating expenses increased slightly from JMD4491m to JMD4512m over the same timeframe, while operating earnings before other income and other expenses nudged up from JMD2210m to JMD2962m.