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News Eagle Cement shares first half 2020 results

Eagle Cement shares first half 2020 results

Written by Global Cement staff 11 August 2020
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Philippines: Eagle Cement recorded a net profit of US$26.5m in the first half of 2020, down by 61% year-on-year from US$68.0m. Sales also fell, by 44% to US$120m from US$214m.

Chief executive officer (CEO) Paul Ang said, “These are very difficult times but we remain confident that the economy will recover from this pandemic and emerge stronger. The government’s steady push for the completion of major infrastructure projects and the private sector’s readiness to bounce back offer encouraging signs for our company’s prospects moving forward.” He added, “More aggressive strategies in pricing and marketing will be undertaken in the remaining half of the year.”

Last modified on 12 August 2020
Published in Global Cement News
Tagged under
  • Philippines
  • Eagle Cement
  • Results
  • coronavirus
  • Government
  • Infrastructure
  • GCW468

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