Eagle Cement Corp records 35% increase in net profit

Philippines-based Eagle Cement Corp has recorded a 35 per cent YoY increase in net profit to PHP4.7bn (US$92.3m) for the first nine months of 2019, on the back of higher sales volumes and prices.

Net sales in the 9M19 advanced 25 per cent YoY to PHP15.3bn, supported by a 19 per cent increase in sales volumes.

“Eagle is poised to deliver double-digit growth towards the remainder of the year, as local demand for cement is expected to remain high in line with the anticipated pickup in construction activities coming from both public and private sectors,” said Paul Ang, president and chief executive.