Republic Cement sees profit rebounding this year

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Republic Cement
Republic Cement’s Teresa Plant in Rizal

Republic Cement and Building Materials, Inc. expects profits to recover this year after higher input costs and intense competition put pressure on margins last year.

“The jaw of the tiger is going the other way around. That has to turn, which we think it will,” Sabin M. Aboitiz, president and chief executive officer of Aboitiz InfraCapital, Inc., said in a briefing in Makati City on Monday, May 21.

“I think it has hit a bottom.”

The income contribution of Republic Cement to Aboitiz Equity Ventures, Inc. fell by more than half to P671 million from P1.6 billion, dragged by lower prices and increased production costs. — Krista Angela M. Montealegre