US: Vulcan Building Materials has increased its sales year-on-year by 7% to US$696m in the second quarter of 2013 from US$649m. The construction aggregates and building materials producer said that demand for its products had followed the recovery in private construction activity, particularly residential construction.
"Each of our operating segments reported solid growth in second quarter earnings, contributing to improved gross profit margin and earnings per share. We achieved these results despite challenging, wet weather conditions that sharply reduced June shipments in many markets, " said chairman and chief executive officer Don James.
Vulcan's gross profit for the quarter rose by 25% year-on-year to US$133m from US$106m. Its net earnings were US$28.8m up from a loss of US$18.3m. Vulcan's cement business reported a rise of 11% to US$11.9m from US$10.7m. Volumes of cement shipped rose by 20% to 0.26Mt from 0.22Mt.
In its outlook for the rest of 2013 Vulcan expects the continued recovery of the US economy and building sector to drive demand. Cement earnings are predicted to improve overall in 2013 due to higher shipments and pricing as well as lower production costs.
