EAGLE Cement Corp., said profit last year reached P66.02 billion, up 25 percent from P4.8 billion in 2018.
In the fourth quarter of last year, profit stood at P1.3 billion, down 1 percent from P1.31 billion the prior year.
Eagle Cement said sales hit P19.82 billion, up 20 percent from P16.52 billion the prior year, as the company recognized a full operation of its Line 3 facility in Bulacan.
“Eagle continues to deliver solid growth, with double digit growth across the board. Sound cost structure allows us to gain healthy margins. Aaggressive expansion strongly positions Eagle to compete with existing and new market players in the industry,” the company said.
Income from operations hit P6.8 billion, up 21 percent from P5.64 billion.
Finance costs hit P496 million, up 36 percent from P366 million.
Eagle Cement said the construction of its finish mill 5 is in full swing and will be completed this year while Line 4 completion is set for December 2022.
