Caribbean Cement company suffering huge losses

Caribbean Cement company continues to rack up huge losses.

In its latest financial statements the cement company reported a loss of J$144 billion for the nine-month period ending September.

This compares with similar losses for the corresponding period last year when it reported losses of J$1.4 billion.

The company says improvements in production have not been matched by improved sales volumes.

Cement sales for the third quarter declined by 7.9 per cent over the corresponding quarter last year due to the continuing contraction in the Jamaican economy.

Caribbean Cement says export sales also fell dramatically by 34.7 pr cent largely due to bad weather in August.