CCC’s Bottom Line Takes a Hit from Increased Expenses and FX Losses

• Profit at Caribbean Cement Company declined 23.6% for the year ended December 31, 2019, moving to $1.88Bn (EPS: $2.21) at the end of 2019, down from $2.47Bn (EPS:2.90) in 2018.
• The decline in profit was primarily as a result of a 201.0% ($427.60Mn) increase in losses on foreign exchange. Additionally, operating expenses increased 12.7% (or $280.70Mn), while financial expenses grew 32.6% (or $216.96Mn).
• The stock has fallen 22.0% YTD and closed Tuesday’s trading session at $65.04. At this price, the stock currently trades at a P/E of 29.4x which is above the Main Market Industrial and Material sector average of 23.0x.

(Source: CCC Financials)