Philippines: Cemex Holdings Philippines has recorded a profit of US$17.1m in the nine months to 30 September 2019, compared to US$13.0m losses in the corresponding period of 2018. The company attributed the turn-around to steadily growing sales, up by 1.7% year-on-year to US$0.36bn from US$0.35bn, foreign exchange gains and lower income tax expenses, in spite of falling domestic volumes. The Manila Times has reported that a drop in construction activity and delays to projects failed to prevent a 5% rise in domestic cement prices throughout the period.
Cemex Holdings Philippines turns US$17.1m nine-month profit
URL: https://www.globalcement.com/news/item/10014-cemex-holdings-philippines-turns-us-17-1m-nine-month-profit
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