DMCI sees cement business profitability to take 3 years

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The story "DMCI sees cement business profitability to take 3 years" was covered 17 hours ago by Business Mirror, a news publisher based in Philippines.

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DMCI sees cement business profitability to take 3 years - Business Mirror

Quick Summary:

THE Consunji-led DMCI Holdings Inc.(PSE: DMC) expects its newly-acquired venture, cement firm Concreat Holdings Philippines Inc.(CHP), formerly Cemex Holdings Philippines Inc., may take three years to hit its profitability stride, longer than the initial target of one-year.

The deal gave the group a 90 percent stake in the company, which included the 0.095 percent publicly-owned stake that shareholders tendered as part of the mandatory tender offer required by regulators.

At the financial close, DMCI secured a 51-percent effective stake, while Semirara and Dacon accounted for 10 percent and approximately 29 percent, respectively.