Caribbean Cement reports drop in 2Q profit

Jamaica-based Caribbean Cement posted operating profit of US$28.2m in the 1H22, representing a two per cent drop YoY from US$28.8m.

Net profit also slipped by two per cent YoY to US$19.7m, despite a 10 per cent increase YoY in sales to US$85.5m in the 2Q22.

The drop in earnings was attributed to increased operational expenses during a downturn in the global economy.