Cement News tagged under: Caribbean Cement Co

RSS feed

Caribbean Cement reports drop in 2Q profit

05 August 2022, Published under Cement News

Jamaica-based Caribbean Cement posted operating profit of US$28.2m in the 1H22, representing a two per cent drop YoY from US$28.8m. Net profit also slipped by two per cent YoY to US$19.7m, despite a 10 per cent increase YoY in sales to US$85.5m in the 2Q22. The drop in earnings was attributed to increased operational expenses during a downturn in the global economy.

Caribbean Cement posts flat 1Q profit

06 May 2022, Published under Cement News

Caribbean Cement Co Ltd in Jamaica has reported a flat profit for its 1Q22 but views the future with optimism. In the January-March 2022 quarter, Caribbean Cement saw a profit of JMD1.59bn (US$10.3m) on a revenue of JMD6.8bn, compared to a profit of JMD1.53bn on JMD5.97bn a year earlier. "CCC remains encouraged about the future, especially given the recent actions by the Government of Jamaica to remove curfews and fully reopen the economy. The company is also heartened by the strong ceme...

Caribbean Cement to launch Vertua-certified cement

07 February 2022, Published under Cement News

Cemex -owned Caribbean Cement Co will be launching its newly co-branded Vertua-certified cement to support the reduction in carbon emissions by 40 per cent by 2030. “Vertua is a brand that CEMEX worldwide has selected to put on all the low-carbon cement — it's an umbrella, it's a branding. We have a product that has already qualified as Vertua. Every bag you see out there that carries Carib Cement or Carib Cement plus is a low-carbon product,” said the company’s Managing Director, Yago ...

Caribbean Cement to pay 2% royalty fees to Cemex

31 January 2022, Published under Cement News

Following shareholder approval Caribbean CementCo Ltd will pay two per cent royalties to its parent company Cemex from January 2022. The agreed fee is equivalent to two per cent of net sales, half of the cap initially telegraphed to shareholders.  Caribbean Cement said in a statement that since 2017, when Cemex assumed majority control of Caribbean Cement, the plant at Rockfort has relied on Cemex's global expertise, including its safety management systems that resulted in the reduction of...

Caribbean Cement Co provides solution for Riverton waste tyres

30 December 2021, Published under Cement News

More than 2m used tyres will be removed from the Riverton City disposal site in St Andrew, Jamaica, as part of a 10-year project, which is expected to be expanded to other refuse disposal sites across the island. The tyres will provide fuel for the kilns of the Caribbean Cement Co Ltd as part of the National Programme for the Environmentally Sound Management of End-of-Life Pneumatic Tyres, a project with the Jamaican government. Over 8700 tyres have already been taken from the Riverton fac...

Caribbean Cement signs MoU for tyre usage

24 June 2021, Published under Cement News

The Jamaican government has signed a Memorandum of Understanding with Caribbean Cement Co for the usage of end-of-life pneumatic tyres. The company will take used tyres from landfills and convert them into an alternative fuel. Prime Minister Andrew Holness noted that more than 2m used tyres are generated in Jamaica per year and landfills receive approximately 185,700 tyres per year. Caribbean Cement's Managing Director, Yago Castro, stated that the agreement symbolises the continuation ...

Caribbean Cement sees 2% increase in revenue

06 August 2020, Published under Cement News

Jamaica’s Caribbean Cement has seen a two per cent YoY increase in revenue to JMD4.8bn (US$32.62m) for the second quarter of 2020. Earnings before tax climbed 55 per cent to JMD1bn from JMD0.7bn in the 2Q19, while net income surged 41 per cent YoY to JMD0.5bn. “While it is still very early to fully evaluate the long-term effects of COVID-19 on our operations, we believe that this event has made us a stronger and more efficient organisation,” said Parris A Lyew-Ayee, chairman.

Rain sends Caribbean Cement profits down

01 November 2019, Published under Cement News

Caribbean Cement Co’s 3Q profit was affected by heavy rains at the end of summer and a large tax charge, according to the cement producer. In addition, higher operational expenses further impacted profit. Some of the costs were associated with the demolition of a large obsolete structure at its Rockfort plant near Kingston, Jamaica. Sales revenue in the third quarter fell to JMD4.38bn (US$31.8m) from JMD4.46bn in the 3Q18. Profit before tax declined 55 per cent YoY to JMD238m while profi...