Trinidad Ce­ment Ltd (TCL) yes­ter­day de­clared net in­come of $169.24 mil­lion for the nine months end­ed Sep­tem­ber 30, 2023, a 1.28 per cent in­crease com­pared with the $167.09 mil­lion the ce­ment-pro­duc­ing com­pa­ny re­port­ed for the same pe­ri­od in 2022.

TCL’s rev­enue for the pe­ri­od from Jan­u­ary 1 to Sep­tem­ber 30, 2023 to­talled $1.70 bil­lion, which was 9.64 per cent more than the $1.55 bil­lion the com­pa­ny re­port­ed for the same pe­ri­od in 2022.

On a year-to-date ba­sis, the group record­ed con­sol­i­dat­ed rev­enue from con­tin­u­ing op­er­a­tions of $1.7 bil­lion, 10 per cent high­er than the cor­re­spond­ing pe­ri­od in 2022. The group’s ad­just­ed EBIT­DA on a year-to-date ba­sis for 2023 was $396 mil­lion, a two per cent de­crease com­pared to the pri­or year pe­ri­od, but a sol­id re­cov­ery from ear­li­er in the year.

In its unau­dit­ed, con­sol­i­dat­ed re­sults for the nine-month pe­ri­od, TCL said its group ce­ment sales vol­umes in­creased by two per cent in Ja­maica, four per cent in T&T and 21 per cent in Guyana.

In the di­rec­tors’ com­ments for the pe­ri­od, TCL chair­man, David In­gle­field, and its man­ag­ing di­rec­tor, Fran­cis­co Aguilere Men­doza, said the group re­mains ful­ly com­mit­ted to fol­low­ing its sus­tain­abil­i­ty roadmap to­wards the achieve­ment of its tar­gets.

The com­pa­ny not­ed that on a year-to-date ba­sis, it re­duced over­all net car­bon emis­sions by four per cent, main­ly by us­ing waste oils in Ja­maica, and record­ed a three per cent re­duc­tion in heat con­sump­tion through the pro­duc­tion of low-car­bon prod­ucts in Trinidad & To­ba­go and Ja­maica.

“No­tably, dur­ing the third quar­ter, low-car­bon Pre­mi­um Plus Lime­stone Ce­ment ac­count­ed for 38 per cent of the Group’s to­tal ex­port vol­ume to key Cari­com mar­kets,” said the TCL di­rec­tors.

“While pleased with our achieve­ments across var­i­ous as­pects of the busi­ness, the board and man­age­ment re­main ful­ly vig­i­lant to iden­ti­fy any head­winds that could af­fect our re­sults in the short term and are com­mit­ted to max­imis­ing all op­por­tu­ni­ties in the in­ter­est of cre­at­ing val­ue for our stake­hold­ers,” the di­rec­tors said.