Philippines-based Eagle Cement Corp saw its net sales advance 20 per cent YoY to PHP19.82bn (US$387.78m) in 2019. Gross profit rose 20 per cent to PHP8.67bn, while net income reached PHP6.02bn.
The company has attributed the positive results to the commissioning of its third production line in Bulacan, increasing its total capacity to 2Mta. The construction of its fourth production line in Cebu, which will boost capacity by a further 2Mta, is set for completion by December 2022.
"Eagle continues to deliver solid growth, with double digit growth across the board [...] Aggressive expansion strongly positions Eagle to compete with existing and new market players in the industry," said Eagle Cement.
The company is currently maintaining limited operations, while Luzon is under enhanced community quarantine to address the urgent requirements. However, it expects an increase in construction activity for this year and 2021 for the areas affected by the eruption of Taal Volcano in January.
