CEMENT company, Trinidad Cement Ltd ( TCL), has reported a $12 million loss for the three-month period between April and June 2025 in its consolidated financial reports ending on June 30, 2025.
The three-month loss is a stark turnaround from the same period the year before, when it reported $98 million in profits.
In the chairman’s report, chairman David Inglefield and managing director Francisco Aguilera Mendoza explained that the loss for the quarter was because of a $16 million impairment of fixed assets in Barbados, following a business model change and an $18 million severance and restructuring costs in Barbados, along with other operations in the group.
In 2023, TCL confirmed that it planned to cut its workforce in its Barbados-based subsidiary Arawak Cement Company Ltd.
The financial report, published on the TT Stock Exchange website on July 30, noted that revenue for the quarter was up.
TCL reported an increase in revenue to $618 million, a 1.7 per cent increase over the same period the year before, when it earned $607 million.
“This growth was driven by strong sales volumes in Guyana and favourable pricing in Jamaica and TT, which helped offset weaker domestic volumes in TT and increases in input costs,” the financial report said.
For the six-month period ending June 30, TCL recorded an increase in revenue by five per cent, from $1.18 billion to $1.2 billion.
Operating profits for the six-month period was $120 million, a reduction from $244 million in 2024.
For the six-month period, TCL reported a profit of $73.5 million as compared to $176 million the year before.
“In TT, our strategy will centre on defending our market position and distinguishing our brands in an increasingly dynamic and competitive environment,” TCL said.
“We recognise the importance of maintaining exceptional customer service and delivering valuable offerings, while responding rapidly and effectively to shifts in industry demands and challenges.”
TCL expressed its commitment to upholding the quality of its products and service innovations and supporting local manufacturing that delivers significant benefits to the economy.
“Conditions that foster sustainable local manufacturing encourage investment, support employment stability and improve supply chain resilience while preserving the growth of foreign exchange earnings through exports,” it said.
