Cement segment net revenues were up 5.8% to US$84.2 million in the quarter, as Summit reported a 7.1% rise in sales volumes and 3% rise in average selling prices of cement. Adjusted cash gross profit margin was up to 57.4%, compared to 52.2% in 2016.
“Strong regional demand in the company’s northern markets drove organic growth in the second quarter,” the company said, including a 25% increase in cement sales volumes in its northern Mississippi markets. “Continued organic growth in sales prices was attributable to previously announced price increases.”
The company reported sales of 0.714 million t in 2Q17, compared to 0.659 million t in 2Q16. In the first six months of the year, the company’s cement sales broke through the million tonne mark, reaching 1.08 million t, compared to 0.943 million t last year.
Pricing was up to US$112.09 per tonne in the three months to 1 July 2016, compared to prices of US$108.89 per tonne in 2Q16.
