00:00In its consolidated unaudited interim financial report for the six months ended June 30th,
00:07Trinidad Cement Limited, TCL, reported revenue of $1.196 billion,
00:14down from $1.2 billion in the corresponding period last year.
00:19TCL said the decline was partially offset by stronger volumes in Jamaica.
00:24Despite lower revenue, gross profit increased by 36% to $487 million,
00:32while gross margin improved from 28.8% to 40.7%.
00:38The company attributed the improvement to stronger operational performance and cost efficiencies,
00:45particularly in Jamaica, as well as the timing of Jamaica's annual maintenance shutdown,
00:51which affected results in the first half of 2025, but is scheduled for the third quarter this year.
00:58Operating earnings before other expenses and other income and credits rose 64% to $333 million,
01:07compared to $203 million in the first six months of 2025.
01:12Jamaica remained the main contributor to the group's performance, generating $328 million,
01:19or about 98% of operating earnings before other expenses and other income and credits.
01:27TCL said Guyana and Barbados also delivered improved results,
01:32while its TNT operations continue to face challenging market conditions and higher natural gas costs,
01:39resulting in an operating loss for the period.
01:42Earnings before taxation increased to $266 million from $108 million a year earlier,
01:51while net income rose to $209 million from $74 million.
01:56Net income attributable to controlling interest climbed to $146 million,
02:02compared with $45 million in the corresponding period of 2025.
02:07Operating cash flow remained strong at $234 million,
02:12and cash and cash equivalents increased to $858 million at June 30,
02:19up from $592 million at the end of last year.
02:24Looking ahead, TCL said its local operations continue to face lower sale volumes and stronger competition,
02:31noting that cement imports increased by 173% in the first half of 2026 compared with the second half of
02:422025.
02:43The company said it has implemented pricing and other commercial initiatives
02:47to support sales recovery and strengthen competitiveness.
02:51Fashana Pogu, TV6 News.
02:53Fashana Pogu, TV6 News.
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