Eagle Cement nets P2.2B

Paul Ang

Cement-maker Eagle Cement Corp. booked a 13-percent year-on-year growth in first semester net profit to P2.2 billion, driven by higher sales volume amid cutthroat competition that has curbed cement prices across the industry.

Net sales reached P7.5 billion, an increase of 12 percent year-on-year. Eagle attributed this to the increase in the sales volume of both bagged and bulk cement, partially offset by a decline in the
average selling price of cement.

Gross profit margin remained high at 48.6 percent despite the decline in prices.

Income from operations and cash flow reached P2.9 billion and P3.4 billion, an increase of 5 percent and 11 percent, respectively.