Cementos Lima 2Q net profit falls

Cementos Lima 2Q net profit falls
Published: 27 July 2010

Peru’s biggest cement producer, Cementos Lima SA, said its second-quarter net income totalled PEN52.9m (US$18.6m), down from PEN55.3m in the same quarter last year, due to higher costs.

Second-quarter gross revenue rose to PEN268.5m, compared to PEN223.5m in the second quarter of 2009.

YoY cement sales rose 15% to 804,000t thanks to greater local demand, while production YoY rose 15% to 817,000t in the second quarter.

Cementos Lima also said its market share in the second quarter fell to 40.6% from 42.3% a year earlier.

EBITDA increased by EUR4.5m to EUR40.5m. The EBITDA to revenues ratio was 16.8%, up from the 15.6% a year ago. EBIT grew by 16.3% to EUR 18.2m.

However, Cementir’s net profit plunged to EUR 301,000 in the first half of 2010 from EUR 9.5m a year ago.