Eagle Cement announces 181% rise in net income

Philippines-based Eagle Cement has posted a 181 per cent YoY increase in net income to PHP3.7bn (US$73.08m) in the first half of 2021, against PHP1.32bn in the corresponding period of last year.

Net sales also advanced 87 per cent to PHP11.06bn from PHP5.91bn in the 1H20.

The company has attributed the results to higher sales volumes despite the decrease in the average selling price of cement per bag, which resulted from tight competition.