The Barbados market is no longer contributing to its manufacturing output, but Trinidad Cement Limited (TCL) says operations here have delivered improved results for it.
Trinidad and Tobago-based TCL once produced cement at its Arawak Cement Company Limited subsidiary in Checker Hall, St Lucy, but ended manufacturing there.
Commenting on the group’s condensed consolidated unaudited interim financial report for the six months ended June 30, chairman David Inglefield and managing director Francisco Aguilera Mendoza said that at the end of the period the group’s consolidated revenue was $355.4 million, four per cent below the same time last year.
“This reflects weaker cement market conditions in Trinidad and Tobago, and the closure of our Readymix concrete and aggregates business at the end of the first quarter. This was partially offset by stronger volumes in Jamaica,” they explained.
The pair also said that despite the reduction in revenue, gross profit increased by 36 per cent to $144.7 million, and gross margin improved from 28.8 per cent to 40.7 per cent.
“This improvement was driven by a stronger operational performance and cost efficiency, particularly in Jamaica,” the chairman and managing director reported.
“In addition, the year-on-year comparison was supported by the timing of Jamaica’s major annual maintenance shutdown, which affected the first half of 2025 but has been scheduled for the third quarter of 2026 and therefore did not impact the current period’s results.”
TCL’s operating earnings before other expenses and other income and credits increased by 64 per cent year-on-year to $99 million, compared with $60.3 million in the first six months of 2025.
Jamaica remained the main contributor to the group’s performance, generating $97.5 million, or approximately 98 per cent year-on-year of operating earnings before other expenses and other income and credits – up 108 per cent year-on-year over the prior year.
“Guyana and Barbados also delivered improved results, while TCL’s Trinidad and Tobago operations continued to face challenging market conditions, compounded by the substantial price increase in fuel cost, natural gas, and recorded an operating loss for the period,” Inglefield
and Mendoza said.
After other expenses, other income and credits and net finance costs, TCL’s earnings before taxation increased to $79 million, compared with $32 million in the corresponding period of 2025. The group recorded a taxation charge of $16.6 million, reflecting the improved profitability generated across the operating jurisdictions. Consequently, net income increased to $62.1 million, compared to
$22 million in the first half of 2025.