The Arawak Cement Company Limited no longer manufactures cement, but its Trinidad and Tobago-based parent Trinidad Cement Limited (TCL) Group reports that the company is “showing significant” progress, including improved earnings and cash flow.
TCL Group Chairman David G. Inglefield and managing director Francisco Aguilera Mendoza outlined this in the group’s condensed consolidated unaudited interim financial report for the nine months ended September 30.
“Barbados is also showing significant progress following the transition of its business model to a distribution centre in quarter two 2025, resulting in positive earnings before interest, taxes, depreciation, and amortisation (EBITDA) and increased free cash flow,” they said.
Inglefield and Mendoza reported overall that during the third quarter, TCL Group reported a consolidated revenue of $179.4 million – a 16 per cent year-overyear (YoY) increase. “This growth was mainly due to robust sales in Jamaica and Guyana, coupled with favourable pricing across the region, which compensated for lower domestic sales in Trinidad & Tobago,” the two officials noted.
The group’s operating earnings before other expenses and other income and credits rose by 169 per cent YoY to $50.5 million, fuelled by robust revenue growth and effective cost optimisation measures.
Approximately 88 per cent of this increase was attributed to “the better performance of our operation in Jamaica, while Trinidad & Tobago, Guyana and Barbados contributed four per cent each”.
“This result was also attributable to the implementation of a strategic restructuring programme in 2025, which has successfully reduced administrative expenses,” the chairman and managing director reported.
“Additionally, the prior year’s performance was adversely impacted by Hurricane Beryl and other
severe weather events in Jamaica, underscoring this year’s strong recovery.”
The TCL Group achieved a net income of $25.4 million for the quarter, compared with $10.3 million in the third-quarter last year.
Calling it an impressive performance, Inglefield and Mendoza explained that it was “primarily due to higher revenues, effective cost optimisation initiatives, and the positive impact of improved market conditions, as previously outlined”.
The group’s third quarter cash flow from operating activities was $29.8 million, with $12.4 million invested in capital expenditures.
Significant allocations were made to maintenance and strategic projects in Jamaica and Trinidad & Tobago.
The third quarter also saw dividends totalling $18.9 million declared and distributed to shareholders of the TCL Group.
On a year-to-date basis, the TCL Group’s consolidated revenue reached $560.9 million, up nine per cent YoY, which the officials said showed “sustained volume and pricing strength in key markets”.
The net profit for the year so far was $47.3 million compared to $62.4 milllion last year. The lower profitability up to the end of September was “mainly due to lower sales in Trinidad & Tobago and increased expenses from fixed assets impairment; restructuring costs in Barbados following changes to the business model in quarter two 2025, and severance payments in quarter three 2025”.
(SC)
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