HOLCIM Philippines, Inc. recorded a 9% increase in its net attributable income to P669.56 million for the quarter ending September, higher than the P613.7 million recorded last year despite lower net sales.
“Our continuing focus on operational efficiencies and cost management enabled us to drive performance despite market demand and inflationary challenges. We take pride in leading industry innovations with our new building solutions that help partners build better,” Holcim President Horia-Ciprian Adrian said in a statement on Friday.
The company said it had to deal with cost increases in fuel and power in the third quarter, which was coupled with inclement weather and quarantine restrictions.
Its net sales for the quarter declined by 12% to P6.49 billion from P7.36 billion a year ago.
Holcim launched the Holcim AAC Block Adhesive in the third quarter, which is the third product it introduced this year after Holcim Multifix and Holcim Aqua-X.
For the nine-month period, the company’s net profit jumped 124% to P2.3 billion from P1.03 billion logged a year ago. Net sales, meanwhile, rose 7% to P20.15 billion from P18.78 billion.
“This was due to the recovery of the market as seen in the improved demand for construction materials which positively impacted the cement, aggregates, and dry mix businesses,” Holcim said.
Shares of Holcim at the stock exchange went down by 0.34% or two centavos to close at P5.81 each. — Keren Concepcion G. Valmonte
