Peru’s Cementos Lima 1Q2011 net income soars

Peru’s Cementos Lima 1Q2011 net income soars
Published: 21 April 2011

Peru’s biggest cement producer, Cementos Lima SA, posted 1Q2011 net income of PEN70.58m (US$25.21m), compared with PEN55.44m (US$19.6m) in the same quarter in the previous year.

The increase was due mainly to higher cement sales which rose on house-building and private sector demand, as well as good business management, the company said.

Revenue totalled PEN279.16m, compared with PEN259.49m in the same period a year earlier.

The company said cement production in the first quarter was 828,529t, up 1.6% YoY.