HOLCIM Philippines Inc. posted a 19-percent increase in net income for the first nine months of the year on the back of strong sales and improved operational efficiencies.
In a disclosure to the Philippine Stock Exchange on Wednesday, the cement maker said its nine-month profit rose to P5.42 billion from P4.55 billion a year earlier.
Total sales increased by 10 percent to P30.81 billion from P27.99 billion in the comparable period.
In the third quarter alone, Holcim said net income rose by 15.3 percent to P1.76 billion from P1.53 billion while sales remained flat at P9.99 billion.
The company noted strong demand for cement because of the continuing construction activity from both public and private sectors.
Holcim aims to boost its annual cement output to 10 million metric tons (MT) by this year from 8 million MT last year.
Additional capacities are expected from the Calaca factory in Batangas (1.2 million MT), the Mabini facility (300,000 MT) and the Star Terminal in Manila (500,000 MT).
Holcim Philippines is the local unit of the LafargeHolcim Group, producing and supplying cement and aggregates (crushed stone, gravel and sand).