LISTED cement manufacturing firm Eagle Cement Corp. booked a P1.38-billion income in the third quarter, inching up by 1% from P1.37 billion in the same period last year after sales improved.
In a disclosure to the exchange on Thursday, the company said its net sales improved by 28% to P5.18 billion from last year’s P4.05 billion. Its gross profit likewise posted a 24% growth to P2.17 billion from P1.75 billion.
The company also reported that its Bulacan plant expansion has been fully completed. The expansion included its fifth cement mill, third packhouse, and fifth cement silo, along with other facilities.
For the first nine months, the company booked an 89% profit growth to P5.08 billion from P2.69 billion year on year. Its topline also surged by 63% to P16.24 billion from P9.96 billion.
Eagle Cement President and Chief Executive Officer John Paul L. Ang said the company is “pleased to report [an] encouraging set of results” with the pandemic, lower cement prices, and increasing input costs at its backdrop.
Eagle Cement shares on Thursday went down by 0.70% or 10 centavos to close at P14.30 per share. — K.C.G. Valmonte
