Holcim nets P6.8B
Leading cement-maker Holcim Philippines saw a 16-percent drop in net profit last year to P6.8 billion, citing non-recurring items that boosted comparative profit in the previous year.
Without one-off items, Holcim said in a press statement on Thursday that its net profit last year expanded by 24 percent on effective management of manufacturing costs even as the company raised its cement production capacity.
The company’s revenue grew by 7.5 percent to P40.3 billion from the previous year on higher cement volumes and price. This increased cash flow last year by 14 percent to P10.8 billion.
Higher sales were reported last year despite increased competition, citing “customer loyalty in a period of strong construction activity.”
Holcim Philippines Chief Operating Officer Sapna Sood said: “Ensuring stable supply is critical in these times of high building activity. Last year, we demonstrated our commitment to keep the market supplied by raising our production capacity and leaning on our strong regional network. As a result, we showed our customers we are a reliable partner which helped us compete even with the entry of new players.”
“Aside from raising our production capacity, we are well positioned to introduce more value-adding construction solutions from the LafargeHolcim Group to help the country build better as it embarks on more sophisticated construction projects.”
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.