Carib Cement’s Financial Performance Continues To Grow From Strength To Strength
Carib Cement Company’s financial performance for the second quarter ending June 2018, continues to grow from strength to strength in terms of focus on safety, financial and operational performance and customer-centricity, whilst celebrating achievements via keen attention to corporate social responsibilities.
This according to Chairman of the company Parris A. Lyew-Ayee, who also reported that revenue earned of JA$4.4 billion represented an increase of 11%, in comparison to second quarter ending June 2017.
Revenue for the first six months of 2018 was reported at JA$8.8 billion which represented an increase of 9% in comparison to 2017.
Earnings before interest, tax, depreciation, amortisation and restructuring costs (EBITDA) for Q2 2018 was JA$1.7 billion, which was 180% higher than Q1 2018 and represented an increase of 118% in comparison to the JA$778 million reported for Q2 2017.
Overall EBITDA for the first half year of 2018 was JA$2.3 billion, a 58% increase over the JA$1.5 billion reported for the comparative period in 2017.
Profit before taxation for Q2 2018 was JA$972 million, which was an increase of 90% over Q1 2018 and an increase of 41% compared to Q2 2017 of JA$691 million.
Profit before taxation for the first quarter of 2018 was reported at JA$1.5 billion which represented an increase of 22% in comparison to JA$1.2 billion reported for the first quarter of 2017.
This net profit before tax result is an achievement in comparison to previous periods.
Net profit after taxes for the period amounted to JA$704 million with a $0.79 earnings per share.
Commenting further he reported that this overall performance resulted from the positive impact gained from the termination of the lease agreement with Trinidad Cement Limited (TCL) for the Kiln 5 and Mill 5, and improvements in sales and marketing efforts amongst other strategic decisions.BM
To view Caribbean Cement Company Limited Condensed Consolidated Unaudited Interim Financial Report for the Six Months Ended June 30, 2018 click HERE