Fortune Cement Income Up 16%
PSE Circular for Brokers No. 373-98 • Philippine Stock Exchange • Circulars for Brokers • Mar 13, 1998
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March 13, 1998 PSE CIRCULAR FOR BROKERS NO. 373-98 Fortune Cement Income Up 16% Fortune Cement Corp., a member of the SM group of companies, reported a net income of P600.1 million for the year 1997, despite of a difficult business environment, brought by the region wide financial crisis. Last year's net income was P516.9 million. During the year ended, sales grew by 18% to P1.459 billion as the Company maintains its leadership in the Southern Luzon region. The Company finished in December, 1997 its new Line II dry processing plant. This brings the total annual clinker production capacity to 1.8 million metric tons, equivalent to about 50 million bags of cement. This recently completed expansion program will not only increase the production capacity but will also reduce the production cost and increase the dominance of Fortune Cement in the Calabarzon area.
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