Caribbean Cement Company is reporting solid financial results for 2024, despite tough economic conditions and the impact of Hurricane Beryl.
Net income rose to J$6 billion, compared with $5.6 billion in 2023.
The company recorded revenue of J$27.9 billion, a slight increase of 0.7%, compared with 2023.
The company said this growth was driven by strategic efforts to cut costs, recover from the hurricane, and manage inflationary pressures.
Net operating earnings before other expenses stood at $8.6 billion, while earnings after expenses totalled $7.6 billion—a modest improvement over last year.
The company said its quick response after Hurricane Beryl helped stabilise equipment and resume production swiftly, limiting the impact of rising operational costs.
In a major boost to its financial health, Caribbean Cement generated J$12 billion in cash from operations—up from $7.5 billion last year.
That strong performance allowed the company to fully repay its long-term debt in 2024.
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