Eagle Cement nets P1.1B
Eagle is the fourth biggest cement manufacturer in the country.
Ang family-led Eagle Cement Corp. grew its first quarter net profit by 3 percent year-on-year to P1.1 billion on the back of higher sales volume and efficient production amid a highly competitive operating environment.
Three-month revenues of Eagle went up by 6 percent year-on-year to P4 billion, Eagle said in a press statement on Friday.
Eagle attributed its sustained increase in sales volume to “long standing cost-effective and efficient production grounded on owning the country’s most-modern end-to-end cement manufacturing plant.”
The company said its higher cement output, coupled with a “highly capable” team, contributed to its ability to meet demands in more markets.
“We remain confident about the future as private consumption continues to drive our economy coupled with the infrastructure boom. We are constantly looking at opportunities to grow the company, at the same time continuously manage costs to maintain our competitiveness,” Eagle president and chief executive officer Paul Ang said.
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