Caribbean Cement reports gains in 1H24

Jamaica-based Caribbean Cement Co Ltd (CCCL) has announced unaudited revenue of JMD7666m (US$49m) in the quarter ended 30 June 2024. This compares to JMD7475m in the same period a year earlier. Gross profit advanced from JMD3679m in the June 2023 quarter to JMD3885m in the June 2024 quarter while consolidated net income over the same time frame improved from JMD2156m to JMD2350m. Basic earnings per share, meanwhile, increased from JMD2.53 to JMD2.76 over the same period. 

Over the six months ended 30 June 2024, revenue came in at JMD15,284m, up seven per cent from the JMD14,277m seen in the same period in the previous year. Operating earnings over the opening six months of 2024 came in at JMD5391m, marking a 68 per cent increase from the JMD3201m reported in the same period in 2023. Earnings before tax increased by 77 per cent YoY to JMD5432m in the first half of 2024, while consolidated net income over the same time frame jumped 80 per cent to JMD4280m.