Holcim first-half profit jumps 52% to P3-B

MANILA, Philippines – Holcim Philippines Inc. said Monday, August 12 its first-half earnings jumped 52% as healthy construction activities by both government and private sector boosted demand for cement.

In a financial report sent to the Philippine Stock Exchange, Holcim said its January-June net income rose to P3.053 billion from P2.013 billion in the same period of 2012.

Holcim said demand for cement industry-wide rose 6.2% in the first half.

Robust demand pushed its net sales to P15.3 billion, up nearly 11% from last year’s P13.8 billion.

Here are other highlights of Holcim’s first-half financial performance:

• Cost of sales rose 4.4% to P9.605 billion from P9.2 billion due to higher import cost
• Operating expenses went up 29% to P786.8 million from P608.5 million on higher expenses for administration of projects and selling and marketing

– Rappler.com