The cement industry in the Philippines has experienced a tapering of sales in 3Q13. The Cement Manufacturers’ Association of the Philippines (CeMAP) has reported that sales volumes were up y/y due to an increase in construction but down from 2Q13 to 3Q13 due to seasonal changes in demand. Due to the rainy season, the third quarter is typically the weakest for sales. Holcim Philippines Inc., however, has reported surprisingly promising figures for 3Q13, despite the company’s plants undergoing maintenance.
Holcim 3Q13 results
- Net profit increased by 34.2% y/y to Php691.2 million, rising from Php514.9 million in 3Q12, resulting in a 47.8% rise in its nine-month net profit y/y to Php3.74 billion.
- Sales revenue rose by 7.4% y/y to Php6.9 million from Php2.52 billion in 3Q12, resulting in a 9.5% rise in the nine-month revenue y/y to Php22.1 billion from Php 20.2 billion.
It has been reported that the positive results were due to strong demand from the private and public sectors, steady prices, an increased volume of construction projects and Holcim’s efforts in improving cost management and plant efficiency.
Edited from various sources by Rosalie Starling
Read the article online at: https://www.worldcement.com/asia-pacific-rim/31102013/holcim_profits_soar_despite_a_drop_in_sales_in_the_philippine_cement_industry_366/