Holcim’s La Union plant
The country’s largest cement-maker Holcim Philippines grew net profit last year by 41 percent to P3.6 billion as belt-tightening measures made up for slower sales.
In the fourth quarter alone, however, net profit surged by 112.5 percent year-on-year to P1.71 billion as sales picked up by 17.4 percent year-on-year to P9.81 billion.
“We made significant progress in improving our company’s ability to deliver strong profitable returns to our shareholders last year. Our sustained focus on operational efficiency and cost discipline for the past years lifted our bottom line,” John Stull, president and chief executive officer of Holcim Philippines Inc., said in a disclosure to the Philippine Stock Exchange on Thursday.
“With the completion of our capacity expansion projects, commercial innovations and stronger cost and efficiency mindset, Holcim Philippines is well positioned to deliver sustainable and healthy growth to shareholders and continue our support to this country’s development,” he added.