Philippines: cement sales gain momentum with 11.9% growth in 3Q14

Cement sales reached 5.4 million t in the Philippines in 3Q14 according to local press, citing a preliminary report from the Cement Manufacturers Association of the Philippines (Cemap). This figure is 11.9% higher than the 4.8 million t recorded in 3Q13. The growth rate is also an improvement on 2Q14, when sales slowed somewhat to 3.2% y/y. Accumulated sales for the January – September 2014 period were up 7.7% y/y to over 16 million t.

The improved growth rate has been attributed to favourable weather conditions, as well as greater infrastructure activity, which was boosted by a public-private partnership programme and the ongoing rehabilitation projects carried out in the wake of typhoon Yolanda.

Holcim Philippines reported an 8.5% y/y rise in revenue for 2Q14 as demand from the country’s construction sector remained buoyant. Commenting on the company’s quarterly results, Holcim Philippines CEO, Eduardo Sahagun, said: “On top of the sustained government and private sector spending, we now see some major Private-Public Partnership projects being implemented in the metropolis, hence, our strong sales. We were able to meet this huge demand with our ability and commitment to keep the market supplied during this period of robust growth.”

Edited from various sources by Louise Fordham

Sources:

• Business Mirror.
• Manila Standard Today.
• Holcim Philippines.

Read the article online at: https://www.worldcement.com/asia-pacific-rim/27102014/cement-sales-growth-reported-for-the-philippines-in-3q14-738/