Leading cement manufacturer Holcim Philippines, Inc. posted record sales in the second quarter as construction activity went into full swing during the summer months.
Holcim Philippines’ second quarter revenues grew year-on-year by 8.5% to P8.81 billion after sales further picked up from this year’s strong start. Construction gained momentum particularly in the Visayas due to the ongoing post-calamity reconstruction.
“On top of the sustained government and private sector spending, we now see some major Private-Public Partnership projects being implemented in the metropolis, hence, our strong sales. We were able to meet this huge demand with our ability and commitment to keep the market supplied during this period of robust growth,” said Holcim Philippines CEO Eduardo Sahagun.
The company’s net income reached Php1.65 billion or 18.7% of net sales. For the first half, the company booked Php16.86 billion in sales and Php3.32 billion in net income, higher by 10.3% and 8.7%, respectively, than last year.
In the coming months, the Holcim Philippines chief said the company’s focus will shift to completing the regular maintenance of its plants safely, on time, and within budgeted costs.
Sahagun said completing the periodic maintenance activities is crucial to the company’s ability to support the market especially with the current pace of construction activity likely to be sustained in the medium term.