Caribbean Cement Company Profit Soars in Q1
- For the three months ended March 31, 2019, Caribbean Cement Company reported an unaudited net profit of $1.1Bn (EPS: $1.33) which represents a 237.4% increase relative to the $334Mn (EPS: $0.39) recorded in the corresponding period of 2018.
- Contributing to the improved performance was an increase in revenues which grew by 2.4%.
- Moreover, increased operational efficiencies have resulted in reductions in costs in key areas such as repairs and maintenance and equipment hire. Additionally, the termination of the lease with Trinidad Cement Company concluded in April 2018 with the acquisition of Kiln 5 and Cement Mill 5, further contributed to the reduction of costs.
- The stock has risen 69.86% since the start of the calendar year. The stock closed at $72.02 yesterday and currently trades at a P/E of 18.76x earnings which is below the Main Market Industrial & Material sector average of 32.54x.
(Source: CCC Financials)