US: Summit Materials’ mid-year results have been negatively affected by poor cement sales and lower aggregate sales from its Houston operations. Revenue rose by 15% year-on-year to US$717m in the first half of 2018 from US$623m in the same period in 2017. However, its sales volumes of cement fell by 10% to 0.97Mt from 1.08Mt. The company’s net loss rose to US$19m from US$3m.
“Organic sales volumes in our cement segment were impacted by a combination of high precipitation levels during April and May, together with competitive pressures in the markets we serve,” said chief executive officer (CEO) Tom Hill.
The building materials producer operates an integrated cement plant under the Continental Cement subsidiary at Hannibal in Missouri.
