MANILA, Philippines — Listed cement manufacturer Eagle Cement Corp. recorded a double-digit earnings growth in the first quarter, as construction activities picked up after pandemic restrictions were eased. What’s newEagle Cement registered profits of P1.7 billion in the first 3 months of the year, up 44% year-on-year, financial results obtained by Philstar.com showed. At the same time, competition among cement players tightened amid hard times, forcing Eagle Cement to lower prices which in turn, hurt its bottom-line. But as curbs were relaxed this year, with construction picking up in the first quarter on the back of government infrastructure projects, Eagle Cement appears to be joining other companies on the road to recovery. Expansion was recorded “despite the pandemic and much lower cement price,” the company said.

Source: Philippine Star May 17, 2021 07:30 UTC