A Solid Investment
For more than a century, Monarch has been focused on building the future—for our employees, our communities and our investors. Today, that means technology-driven efficiencies that ensure a high-quality and profitable investment and favorable financial ratios. We’re committed to investing capital in our facilities to operate more efficiently and to better serve our customers.
As our own transfer agent, we’re proud to provide a personal touch to our investors, many of whom have been shareholders for many years with stock passed down through the generations. We’ve paid dividends consistently since 1922, and that type of stability reflects our long-term commitment to the community and the industry—and mirrors our stable leadership and tenured workforce.
The economic recovery which accelerated in our market area during 2016 leveled off during 2017. The resulting increased demand for both cement and ready-mixed concrete allowed us to raise sales prices across all product lines and increase our utilization of our property, plant and equipment. Net sales increased 1.7% for 2017 compared to 2016, while cost of sales decreased 0.9% during the same periods resulting in a $3.9 million increase in gross profit from operations. Legal and other expenses related to the settlement of a lawsuit increased our administrative expenses in 2017 resulting in a 5.5% decrease in income from operations from $28.7 million in 2016 to $27.1 million in 2017.