Durrant Pate/Contributor

Carib Cement’s multi-billion-dollar major kiln upgrade project at its East Kingston plant has now entered the critical construction phase.

During this phase, the company is now installing the kiln’s ducts, electrical systems and other key infrastructure currently in progress. 

The US$40 million capacity expansion project, scheduled for completion later this year, will enhance the sole domestic cement manufacturer’s ability to meet demand while also advancing broader company sustainability objectives by further reducing Jamaica’s carbon footprint. 

The project will also strengthen Carib Cement’s commitment to serving the domestic market and position it to benefit from significant government-led infrastructure initiatives, including roadworks and housing developments with public expenditure expected to reach J$1 trillion over the next five years. 

During this current June second quarter, Carib Cement says it remains focused on expanding operations, fulfilling market demand, and consistently meeting the needs of its customers. These ongoing efforts will continue to reinforce its standing as one of Jamaica’s leading manufacturing companies.

Strong liquidity growth and financial performance

During the first quarter ended March 30, 2025, the cement manufacturer sustained strong liquidity growth, ending the quarter with a cash and cash equivalents balance of J$9.7 billion. At the same time, revenue grew to J$8.2 billion, a 7.7 per cent increase compared to the same period last year. 

Operating earnings before other income and expenses amounted to J$2.9 billion. After accounting for other expenses, operating earnings stood at J$2.7 billion, up J$64 million over the first quarter of 2024.

This growth was primarily driven by the continued benefits from the normalisation of operational costs. Consolidated net income totalled J$2 billion, exceeding the 2024 figure by J$65 million. 

Earnings per share (EPS) for the quarter closed on $2.34, up $0.07 compared to the same period in 2024. Regarding cash flow, net cash provided by operating activities totalled J$2.3 billion, with J$1.1 billion allocated to capital expenditures (CAPEX).