According to reports, Lafarge Republic Inc. – the Filipino division of the French cement major – saw profits rise by 30% in 2013 to P3.7 billion. Demand from government and private construction projects has been attributed for the strong performance, which also saw net sales increase by 16% to P23 billion.
Lafarge Republic’s growth is in line with the development of the cement industry in the Philippines, where national cement demand reached 19.4 million t in 2013 – a 5.9% increase on 2012 figures. The company’s president, Renato Sunico, said that costs have increased as the price of energy and raw materials rises, but that Lafarge Republic has been able to moderate those rising costs by utilising local coal and alternative fuels. Though the company is focusing on operational efficiency, he acknowledged that higher costs remain a ‘key concern and challenge in the future’.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/asia-pacific-rim/31032014/profits_rise_for_lafarge_republic_inc_968/