Shares of Carib Cement hit a one-year high despite robust gains

Shares of Caribbean Cement Limited rose 15 percent in the week after record results.

Shares closed trading Thursday at $64.50, up from $57.60 on Monday. This amounted to a 52-week high. Premarket on Friday shows the stock has a bottom at $60 for sellers looking to get out of the stock quickly. While buyers can purchase for a minimum of $64.50.

The company’s first-quarter results released this week showed revenue totaling $7.6 billion, up 11.9 percent year-on-year. The result was the highest turnover in the company’s history

In addition, net income in the first quarter was $1.9 billion, surpassing the corresponding period in 2023 of $289 million. In 2023, the Rockfort plant was running slowly due to scheduled maintenance. As a result, the company generated less turnover and profit.

Earnings per share were $2.27, up $1.93 from the same period in 2023.

In terms of cash flows, Carib Cement held $6.25 billion at the end of December, or three times as much cash as a year earlier. Looking ahead, CCCL remains focused on expanding its Rockfort facility in Kingston.