EAGLE CEMENT EARNS P4.26B ON STRONG SALES

RAMON Ang-led Eagle Cement Corp. booked a net income of P4.26 billion in 2017, slightly lower than the P4.3 billion to P4.5 billion target but 4 percent higher than the profit recorded in the previous year.

Eagle Cement told the local bourse on Friday the increase was due to the strong sales volume last year, with net sales rising 12 percent year-on-year to P14.87 billion.

“We have continued to beat our operational targets in terms of - cies. Our efforts in upgrading and debottlenecking of our existing production lines allowed us to keep healthy margins despite the challenging market environment,” Eagle President and Chief Execu

The company said its third production line in Bulacan is expected to be operational this year, bringing its annual production capacity to 7.1 million metric tons.

The new line would also expand Eagle Cement’s reach to new markets in Region I, MIMAROPA (Mindoro, Marinduque, Romblon and Palawan), Bicol in Southern Luzon, and Western Visayas.

Eagle Cement has broken ground on its fourth production line in Cebu, which is scheduled to be completed by 2020. This would add another 2 million metric tons to its annual production capacity. The Cebu production line will serve markets in Negros, Cebu, Bohol, Masbate, Misamis Oriental, Davao, Zamboanga, and South Cotabato.