Trinidad Cement Ltd records 21% rise in profits

The TCL Group recorded a 21 per cent increase in profits for the third quarter ending September 30, according to its consolidated financial reports released on Monday.

The report said the group earned $66 million for the quarter, as compared to $54.7 million for the same period in 2022.

The company earned $553.2 million in revenue for the quarter, as compared to $489.4 million the year before.

For the nine-month period ending on September 30, the company earned $169.2 million in profit after tax, as compared to $167 million the year before.

For the year the company earned $1.7 billion in revenue, a ten per cent increase as compared to the year before.

Managing director Fransico Aguilera Mendoza, in the director’s statement, said the increases in revenue came from increase in sales volumes in the region.

“Cement sales volumes increased by two per cent in Jamaica, four per cent in TT and 21 per cent in Guyana,” Mendoza said.