Earlier Cemex Holdings Philippines (CHP) reported a significant decline in cement sales for the first six months of 2023. It disclosed a 15% decline in cement sales compared to the same period last year.
Cemex Holdings Philippines’s peer, Holcim Philippines, avoided its fate. Holcim’s sales held steady. For the first six months of 2023, Holcim reported total sales of 12.9 billion an improvement from 12.2 billion a year earlier.
Holcim’s first six months bottom-line even improved to 835 million from 661 million a year ago. Its earnings per share improve to 0.129 from 0.102. Contrast that with Cemex’s reported six-month loss of 662 million.
Cemex’s reported loss may have been smaller than expected by some analysts, but it is a loss when its peer is growing its net income. The reported results of Cemex’s may have showcased the company’s becoming uncompetitive in the industry.
Cemex’s industry performance is very vital to the public shareholder holdouts of Cemex. Some 10% of Cemex is still owned by the public who are mostly retail investors and traders. Until when can these holdouts endure the poor performance of Cemex?
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