Cement News tagged under: Trinidad

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Trinidad Cement post-tax profit soars in 2023

08 April 2024, Published under Cement News

Trinidad Cement Ltd (TCL) saw revenue increase by 8.2 per cent YoY to TTD2.229bn (US$328.8m) from TTD2.061bn in 2022. EBITDA slipped by one per cent YoY to TTD514m, of which 85 per cent was attributed to the Jamaican operations, according to David Inglefield, the company's chairman. “Guyana also continues to improve its profitability with an increase in EBITDA of over 53 per cent compared to last year due to higher sales volumes and stronger pricing," he said. In terms of the Trinidad ...

TCL raises cement price

20 March 2023, Published under Cement News

Trinidad Cement Ltd (TCL), part of CEMEX, will increase its cement prices by 20 March 2023. TCL TTD43.65 (US$6.44)/42.5kg bag and by eight per cent for Premium Plus to TTD47.83/bag. “Cement prices are in fact set to be marginally adjusted, taking into consideration some of the rising cost factors with which TCL is faced,” said the company. While cement is locally produced and had not been affected by the same price volatility as lumber and steel, the cost of local inputs, which account f...

TCL engages in low-carbon cement sales

19 October 2021, Published under Cement News

Trinidad Cement Ltd's (Cemex group) ECO Cement brand has achieved the Cemex Vertua seal, the group’s global standard for products that offer a reduction in carbon emissions ranging from 15 to over 40 per cent during production, TCL officials state. However, TCL has a hard battle ahead to convince the construction industry to move towards low-carbon cements. The low-carbon product has actually been on the local market since 5 June 2020. It retails at TTD43/bag (US$6.32/bag), and is ...

Rock Hard Cement to temporarily close operations

04 January 2021, Published under Cement News

Rock Hard Cement, a Trinidad-based cement importer, is expected to close its operations for one month from Monday. The company has attributed the closure to the Ministry of Trade and Industry’s new policy which went into effect on 1 January. The policy introduced a quota, import licensing regime and registration system for grey and other types of hydraulic cement. The system is expected to last for a three-year period and implement a maximum quota of 75,000t of imports for all contractors...

Cemex amends Trinidad Cement bid

10 January 2017, Published under Cement News

Cemex has announced that its indirect subsidiary, Sierra Trading, will present a change and variation notice making an amended offer to the offer and take-over bid of Trinidad Cement Ltd (TCL) that was presented on 5 December 2016. The acquisition of up to 132,616,942 ordinary shares in TCL paired with its existing share ownership in TCL of approximately 39.5 per cent, will result in Sierra Trading holding up to 74.9 per cent of the equity share capital in TCL. Pursuant to the amended ...

Trinidad Cement to pay first dividends in 8 years

19 May 2016, Published under Cement News

Trinidad Cement Ltd (TCL) will pay a dividend to shareholders in July. This ends an eight-year period in which shareholders received no returns from the stock. Trinidad Cement last paid a dividend in December 2007. At four cents a share the total payout will amount to TT$15m (US$2.2m). The board of directors said they approved the interim payment after considering contractual, economic, financial and legal factors. TCL has been investing in regional businesses, including Caribbean Cement...

TCL restructures debt, names new CEO

18 May 2015, Published under Cement News

Trinidad Cement Ltd (TCL) has repaid all its previous lenders, company chairman, Wilfred Espinet, announced alongside Nigel Edwards and new chief executive, Jose Luis Seijo. Espinet said shareholders were updated at a February meeting on some of the board's plans to reorganise the capital structure of TCL and were, at that time, advised that the board had agreed to a set of restructuring terms with lenders, with two significant preconditions-the removal of the 20 per cent restriction ...

TCL reports full-year loss

25 February 2015, Published under Cement News

Trinidad Cement Ltd recorded a loss of TTD211m for last year, as the company wrote down the value of its investment in Arawak Cement Company (Barbados) by TTD153m and in deferred tax assets by TTD86m. TCL chairman Wilfred Espinet said if the one-time impairment expenses were excluded from the results, the profit after tax figure would have amounted to TTD88m, which would have been 166 per cent higher YoY on a like-by-like basis. Revenues rose by nine per cent YoY driven by growth in it...

Trinidad Cement 9M14 revenues rises TTD97.2m

21 October 2014, Published under Cement News

Trinidad Cement Ltd (TCL) has seen its revenues rise by TTD97.2m (US$15.4m) in the first nine months of 2014. Revenues increased to TTD1.587bn from TTD1.49bn when compared with the same period last year. Profit after taxes amounted to TTD63.7m compared with TTD78.9m in the prior-year period. The advance has been attributed to growth in the domestic cement markets of Trinidad and Jamaica while price increases in Trinidad, Jamaica and Guyana also contributed to the positive result.

TCL second-quarter revenue up 9%

20 August 2014, Published under Cement News

Trinidad Cement Ltd (TCL) saw second-quarter revenue rise by nine per cent to TTD560m (US$88.3m) as demand remained strong in key markets. EBITDA and non-recurring charges climbed 16 per cent YoY to TTD132.2m in the quarter under review. For the first half year of 2014, revenue increased by TTD79.5m or eight per cent whilst EBITDA and non-recurring charges remained flat at TTD232.2m compared with the first half of 2013. Earnings during the first six months of this year were negatively impa...