Carib Cement Overview
Caribbean Cement Company Limited (CCCL) is a publicly listed company that has been in operation since 1952 and is the sole manufacturer of Portland and blended cement in Jamaica. Its main plant and operations are situated in Rockfort, Kingston with additional quarry operations in both St. Andrew and St. Thomas. CCCL produces high-quality products using 100% indigenous raw materials, all mined within 10 miles of its main plant. CCCL is a member of the TCL Group, which is owned by CEMEX, S.A.B. de C.V.
Carib Cement Reports Recap
Carib Cement Reports Full-year Profit 70% of J$3.2B from J$1.9B!
- Revenue up +13%. First, 2 quarters saw a single-digit increase in sales, but growth picked up in Q3 (+21%) & Q4 (+18%)
- Full-year gross margin up +4.8%
- Expenses saw a -5.6% decrease
2020 Quater 4 Performance
- Revenue of J$5B in Q4 (Dec 2020) up +18%, vs Q4 2019.
- Q3 actually saw sales growing by 21% vs prior year
- Q4 Profit $967m, more than 3x the $310m earned in Q4 last year
- Carib Cement saw its Long-term debt reduce by half.
- Cash Flow positive and improving
Carib Cement Reports Recap, overall, showed Carib Cement had a successful 2020 base on the numbers. The company saw positive growth despite the Covid 19 pandemic. Carib Cement’s positive growth is a clear indication that Jamaica and the Caribbean Real Estate and Infrastructure are going full steam ahead.
Source: (Carib Cement, Yaad Finance)