Holcim Philippines reported a 12.9% rise in net profit in 2014 at P5.1 billion. Double-digit growth in the construction industry maintained high cement demand, driving a 12.3% y/y increase in cement sales volumes and a 13% increase in revenues to P32.6 billion. EBITDA was up 15.1% at P8.8 billion.
The company attributes healthy growth in the economy and effective cost management for its successful performance, which was ahead of the 9.5% growth achieved by the rest of the cement industry.
In 2015, the company plans to continue its focus on cost efficiency, with particular focus on manufacturing and logistics. The government’s investment in infrastructure, alongside private sector expansion, will continue to drive demand.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/asia-pacific-rim/23022015/holcim-philippines-reports-129-percent-increase-in-profit-for-fy14-383/