Eagle Cement sees 6% rise in 9M net profit

Eagle Cement Corp reported in the 9M18 net sales of PHP12.2bn (US$229.2m), up nine per cent YoY from PHP11.2bn in the 9M17. Strong sales and stable prices supported the rise in net sales.

Net profit of the Philippine cement producer advanced by six per cent to PHP3.5bn from PHP3.3bn in the year-ago period.

Despite higher input costs, EBITDA rose by three per cent while margins increased by 42 per cent.

"We remain aggressive and committed in growing our company organically as we are leveraging on the rising cement demand in the country on the back of the infrastructure push of the government and optimism on the private sector," Eagle Cement President and CEO, Paul Ang, said.  He added that next year the company would start increasing grinding capacity in Bulacan province by 1.5Mta, resulting in the company’s total capacity rising to 8.6Mta.