Caribbean Cement Co Ltd (CCC) posted a net profit of JMD5.9bn (US$37.5m) for its December year-end, marking a 6.7 per cent increase YoY despite adverse weather conditions.
The company highlighted that the result was achieved, “despite the impact of Hurricane Beryl and other adverse weather conditions that disrupted cement production,” and led to lost sales during the second half of the financial year. Caribbean Cement’s revenues rose by 2.3 per cent to JMD27.9bn (US$177.6m), reflecting strong market demand.
In 2023, the subsidiary of TCL Group and Jamaica's sole cement producer embarked on a multibillion-dollar upgrade to its Rockfort cement plant to increase cement production by one-third to 1.3Mta. The upgrade focusses on enhancing its kiln line.
“The completion of CCC’s major kiln expansion project, now in its final stages, alongside other strategic initiatives, will further strengthen the company’s market leadership, minimise supply disruptions from unexpected events like natural disasters, and enable CCC to launch a sustainable cement export programme, bringing additional foreign exchange into Jamaica,” the company said.
In addition to the kiln upgrade, Caribbean Cement conducted its annual maintenance programme in the third quarter and completed a mill upgrade in the fourth quarter, improving operational efficiency and production capacity.
