Eagle Cement nets P4.3B

Eagle is the fourth biggest cement manufacturer in the country.

Newly-listed cement-maker Eagle Cement Corp. grew its net profit last year by 4 percent to P4.26 billion on buoyant sales volume.

Excluding expenses from its initial public offering, net profit rose by 5 percent to P4.33 billion last year, the company disclosed to the Philippine Stock Exchange on Friday.

Eagle attributed its performance to higher sales volumes as the company reached P14.87 billion in net sales in 2017, marking a 12-percent increase.

“We have continued to beat our operational targets in terms of volume growth and cost efficiencies. Our efforts in upgrading and debottlenecking of our existing production lines allowed us to keep healthy margins despite the challenging market environment,” Eagle president and chief executive officer Paul Ang said.