Holcim Philippines sees 28% fall in sales for 2Q19

Holcim Philippines has reported a 17 per cent YoY fall in net attributable profit to PHP716.15m (US$13.98m) for the 2Q19, while sales dropped 28 per cent to PHP7.28bn.

In the first half of 2019, attributable profit declined nine per cent to PHP1.42bn and sales decreased 18 per cent to PHP15.38bn. However, EBITDA advanced 9.5 per cent to PHP3bn.

"We continued to deliver value to our customers and shareholders by sustaining actions to manage our costs and improve operational efficiency despite a slowdown in public construction activity which affected sales volumes," said John Stull, president and CEO.

Despite this, the company reportedly expects demand to grow in the second half of the year.