Holcim profits fall 42% in 2020
Published March 1, 2021, 2:33 PM Cement manufacturer Holcim Philippines reported a 42 percent drop in net income to P2.06 billion last year from the P3.59 billion earned in 2019 as lockdowns and bad weather weighed down its performance. In a disclosure to the Philippine Stock Exchange, Holcim saidnet sales declined by 22 percent to P26.06 billion from P33.49 billion as volume and prices dropped due to the impact of the pandemic. “Lockdowns from March to May and severe weather conditions in the fourth quarter further affected the business. These hampered delivery of raw materials and service...