TCL makes 15 per cent increase in revenue

Trinidad Cement Limited (TCL) posted a 19 per cent increase in the first quarter of 2021 as compared to last year.

In its consolidated unaudited financial report, TCL said it recorded $493 million in consolidated revenue from continuing operations in the first quarter of 2021 as compared to the first quarter of 2020.

Director Francisco Aguilera Mendoza attributed the increase in cement sales in TT and Jamaica. “The TCL Group’s favourable financial results over the last few quarters, coupled with continuing strength of cement demand in April month to date, led to a more optimistic outlook than previous quarters.

“Nevertheless the outlook for our business will continue to be influenced by the ongoing covid19 pandemic in the economies in which we operate,” Mendoza said.

Mendoza said further outlooks would depend on more waves of the virus and the pace of vaccination programmes.