Holcim Philippines says 2014 net income up 12.9% on sales, cost management

Listed cement manufacturer Holcim Philippines Inc. booked a 12.9 percent jump in net earnings last year, owing to strong sales and effective cost management.

 

Net income reached P5.1 billion from P4.6 billion a year earlier.

 

Sales volume rose 12.3 percent year-on-year to help the company achieve revenues of P32.6 billion, which is 13 percent up from P28.9 billion in the same comparable period.

 

The company cited an effective cost management in manufacturing, distribution and support groups that allowed only a minimal impact of the expensive imported clinker on net profits.

 

“The healthy economy continues to provide opportunities for our business to thrive," Holcim Philippines president and CEO Eduardo A. Sahagun said in a statement.

 

"Last year, with the sustained construction boom, the challenge was ensuring that there is enough supply so these projects are completed on time and on budget,” he added.

 

This year, Sahagun said the company will continue to focus on improving its ability to supply the market through efficiency initiatives in manufacturing and logistics.

 

He noted that the higher government budget for infrastructure, sustained private sector expansion and faster implementation of public-private partnership projects will provide the cement industry with numerous opportunities. – Danessa O. Rivera/VS, GMA News