Eagle nets P4.7B


    Eagle Cement Corp. said profit for the first nine months of the year reached P4.7 billion, up 35 percent from P3.5 billion last year.

    Sales hit P15.3 billion, up 25 percent from P12.2 billion last year, driven by a 19-percent increase in sales volume and supported by the rise in average selling price of cement.

    “The robust domestic environment for cement was still underpinned by private consumption,” the company said.

    For the third quarter alone, Eagle said profit was at P1.4 billion, up 18 percent. Sales hit P4.8 billion, up 21 percent from 2018.

    “EBITDA (earnings before interest, taxes, depreciation and amortization) went up by 19 percent to P1.9 billion, with margin held steady at 39 percent,” it said.

    “Eagle is poised to deliver double-digit growth towards the remainder of the year, as local demand for cement is expected to remain high in line with the anticipated pickup in construction activities coming from both public and private sectors. Our year-to-date solid financial performance is stirred by our relentless efforts to provide world-class, quality cement products at affordable prices while still maintaining our operating efficiencies,” added Paul Ang, Eagle president.