Holcim nets P5.42B

THE COUNTRY’S leading cement player Holcim Philippines grew its net profit in the first nine months by nearly a fifth year-on-year to P5.42 billion on the back of a double-digit growth in cement sales.

For the third quarter alone, Holcim’s net profit rose by 15.3 percent year-on-year to P1.76 billion, attributed to strong sales and improved operational efficiency.

“The company continues to support the construction industry’s strong growth with its improved cement production capacity and innovative building solutions,” Holcim said in a press statement on Wednesday.

For the third quarter, operating cash flow increased by 11 percent year-on-year to P2.78 billion, driven by sustained gains in operational efficiencies implemented at the start of the year and higher cement sales that led to revenues of P9.99 billion for the period.

For the January to September period, cash flow also rose by 16.65 percent year-on-year to P8.53 billion. Higher cement sales led to a 10 percent increase in revenues to P30.81 billion.

“The overall cement demand was fuelled by the government’s increased infrastructure investments and the private sector’s rollout of projects amid a healthy economy,” the company said.

“To support the country’s development and focus on infrastructure, Holcim Philippines has implemented projects to increase its annual cement production capacity to 10 million metric tons up from eight million tons, and has introduced a range of innovative construction solutions to the market,” it added.