Philippines: Philippine construction activity growth, which slowed to 4.4% in the first quarter of the 2016 fiscal year compared with an average 5% growth in the previous three quarters, appears to have picked up in the second quarter of fiscal 2016, which ended on 30 June 2015, as indicated by Holcim Philippines' sales over the period and reported by Dow Jones.
In the second quarter of its 2016 financial year, Holcim Philippines' net sales rose by 9.7% year-on-year to US$212m, aided by higher sales volumes and prices. Holcim president Eduardo Sahagun said that the company was improving plant efficiency and upgrading it to run longer to cover strong demand. He said that cement prices don't appear to be as big a concern as supply. "We understand that contractors are most concerned with steady cement supply and this is what we are trying to address in the second half," said Sahagun.