Durrant Pate/ Contributor

Trinidad Cement Limited (TCL) has been given a lifeline by the spectacular performance of its Jamaican subsidiary, Caribbean Cement Company.

The Trinidad and Tobago-based parent company’s half-year profit rose as Carib Cement drove this upward performance. Net income closed the half-year at TT $62.1 million (US$9.1 million), up from TT$22 million a year ago, despite weaker consolidated revenue.

Jamaica generated TT $97.5 million of operating earnings and remained the principal contributor to group performance, while Guyana and Barbados also recorded improved results. TCL’s Trinidad and Tobago operations posted an operating loss amid difficult market conditions and higher fuel and natural gas costs.

Revenue declined four per cent year-over-year TT$355.4 million, reflecting weaker cement market conditions in the twin-island Caribbean republic and the closure of the group’s Readymix concrete and aggregates business. This was partly offset by stronger volumes in Jamaica.

Gross profit increased 36 per cent to TT $144.7 million with the gross margin rising to 40.7 per cent from 28.8 per cent. Operating earnings before other expenses and income increased 64 per cent to TT $99 million.

Carib Cement June quarter performance

Carib Cement delivered a stronger financial performance for the June quarter, supported by improved operational efficiency, disciplined cost management and resilient market demand. Shareholders’ equity increased to J$38.22 billion as at June 2026, up from J$32.47 billion as at December 31, 2025, while total assets grew to J$53.59 billion. 

These results demonstrate Carib Cement’s capacity to generate sustainable earnings and strong cash flow while maintaining a solid balance sheet. Gross profit rose significantly to J$9.31 billion from J$5.33 billion in the first half of 2025, resulting in a gross profit margin of 50.2%, up from 32.7% a year ago.

The improvement reflects stronger operating efficiency and a more favourable production environment compared with 2025, when the company incurred substantial costs associated with its planned maintenance shutdown, including approximately J$920 million in additional related expenditure and imported cement to maintain market supply.