Manila—(PHStocks)— Lafarge Republic Inc. (LRI) reported during its Annual Stockholders meeting that its consolidated 2012 sales revenue amounted to Php19.9 billion, a 15% increase of the previous year. LRI cited innovative sales and marketing campaigns as major contributors to the growth which was achieved despite of one-off reliability issues with key equipment during the first half of the year.
The increase matched the impressive growth that the industry experienced in 2012 with nationwide demand reaching 18.4 million metric tons (MT) or 18% higher than that of 2011. According to LRI President Renato C. Sunico, “This is the first time in history of the industry that the nationwide demand exceeded 16.0 million MT. The infrastructure and other construction projects of the Government both at the national and local levels coupled with the sustained demand from the private and commercial sectors contributed to this record growth.”