MANILA, Oct. 29 (PNA) — Cement manufacturer Holcim Philippines Inc. earned PhP1.53 billion in the third quarter, doubling its previous year’s PhP721.96 million, as sales surged amid heavy cement demand from sustained construction activity into the rainy season.
Holcim Philippines Country chief executive officer Eduardo Sahagun said the government’s increased infrastructure spending boosted nationwide demand and strongest in the Visayas and Mindanao, with no let-up in the building activity by both the private and public sectors.
“Demand usually dips during the rainy season but this time, we experienced even stronger demand in the third quarter. Under these conditions, it is critical to sustain operations to support the market and we did so due to the steady investments for better plant performance,” he said in a press briefing.
Sahagun said the company has improved performance of the plants which can now operate longer before maintenance activities.
Its logistics operations also improved with more flexibility to supply the National Capital Region through its newly acquired Holcim Manila Terminal, he added.
“For the first time, third-quarter industry volume grew from second quarter as strong demand persisted in the rainy season… The economy is seen to remain resilient despite external challenges and El Nino,” Sahagun noted.
The company’s third-quarter results brought profits for the nine months of 2015 surged by 12.67 percent to PhP4.55 billion from PhP4.04 billion last year.
Holcim Philippines, a member of LafargeHolcim Group, said its net sales rose by 23.2 percent in the third quarter to PhP9.99 billion from PhP8.11 billion. Sales in January to September surged 9.44 percent to PhP27.99 billion.
Sahagun was optimistic about continued growth, noting the issue pertains only whether growth would be single and double-digit as construction ban takes effect before and after the election period. (PNA)