Caribbean Cement Ltd - file photo
Caribbean Cement says its improved revenues are being undermined by escalating costs due to the depreciation of the Jamaican dollar. This, the company says, has also affected its parent, Trinidad Cement Limited, (TCL).
During the period January to September, Carib Cement's revenues totaled $10.7 dollars, up from $8.8 billion last year.
Domestic and export cement sales volumes were up 2% and 7% respectively, while clinker sales grew eleven fold.
The company satisfied the contract to supply 80 tonnes of clinker to Venezuela under the PetroCaribe Agreement.
TCL's revenue
In the meantime, TCL is reporting that during the January to September period revenue grew by $97 million or 6.5%. This was driven by growth in the domestic cement markets in Trinidad and Jamaica.
In addition, concrete sales improved by 12.3% while price increases were implemented in Trinidad & Tobago, Jamaica and Guyana.
In addition, concrete sales improved by 12.3% while price increases were implemented in Trinidad & Tobago, Jamaica and Guyana.
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