CEMENT manufacturer Holcim Philippines, Inc. said on Friday its net income in 2017 declined 65.2 percent due to a slowdown in the construction industry coupled with heightened competition and higher input costs.

Holcim said net income last year dropped to P2.4 billion from the P6.9 billion registered in 2016, while revenues fell 13.9 percent to P34.7 billion from P40.3 billion a year earlier.

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