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News Holcim Philippines records US$9m third-quarter profit amidst falling sales

Holcim Philippines records US$9m third-quarter profit amidst falling sales

Written by Global Cement staff 30 October 2019
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Philippines: Holcim Philippines improved its profit in the third quarter of 2019 by 158% year-on year to US$9.00m from US$3.48m. Its sales in the quarter fell by 2.7% year-on-year to US$163m from US$167m in 2018. The company sustained price increases in spite of lower demand causing a fall in volumes. Nine-month sales fell by 13% to US$465m from US$536m in the corresponding period to 30 September 2018. Upgrades to its La Union and Davao cement plants in previous quarters dragged on nine-month profit, which rose by 7.9% year-on-year to US$36.9m from US$34.2m in the corresponding period of 2018, but paid dividends in the third quarter, bolstered by the resumption of government infrastructure spending.

Last modified on 30 October 2019
Published in Global Cement News
Tagged under
  • Philippines
  • Holcim Philippines
  • Results
  • GCW429

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