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News Caribbean Cement reports decline in third quarter financial results due to Hurricane Beryl

Caribbean Cement reports decline in third quarter financial results due to Hurricane Beryl

Written by Global Cement staff 04 November 2024
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Jamaica: Caribbean Cement has reported a decline in its September 2024 quarter sales by 11% year-on-year, falling to US$37.2m. Third quarter operating earnings dropped by 76% to US$3.6m, largely due to Hurricane Beryl impacting sales and production, alongside increased costs from a scheduled plant maintenance. Earnings before taxation for the third quarter also saw a 69% decline to US$4.8m, and net income dropped by 66% to US$4.2m. ​

From January – September 2024, however, revenue slightly rose by 1% to US$129m. Operating earnings for the nine-month period reached US$36m, up by 4.3% year-on-year. Earnings before taxation for the nine months grew by 11% year-on-year to US$37.2m, while consolidated net income was US$30m, a 12% increase year-on-year.

Last modified on 06 November 2024
Published in Global Cement News
Tagged under
  • Jamaica
  • Caribbean Cement
  • Results
  • GCW684
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