GCC full year results, Mexico

GCC full year results, Mexico
Published: 02 March 2010

Grupo Cementos de Chihuahua (GCC) of Mexico today announced its consolidated results for the quarter ended December 31, 2009.

Net Sales in the fourth quarter of 2009 totalled $2,099.3 million pesos, compared to $2,480.5 million pesos in 2008. This decrease was the result of lower sales in the United States and Mexico.

In the United States, sales in peso totalled $1,101.0 million pesos, a lower figure than in the fourth quarter of 2008. There was a more favorable price environment for cement and concrete. The public infrastructure sector was strongest, with an increase in sales to wind farms.

In Mexico, sales totaled $569.5 million pesos in the fourth quarter of 2009, lower than in the year ago period. There was a slowdown in the housing, commercial and public infrastructure sectors. This decline was partially offset by increased demand from the mining sector in the state of Chihuahua.

Sales in Bolivia rose 11.3% in the fourth quarter of 2009 over the same period of last year. This strong increase was due to greater demand in the DIY and public sectors, as well as the depreciation of the peso against Bolivian peso.

Consolidated net sales rose 1.5% in 2009 with respect to the previous year as a result of higher sales in the United States and Bolivia.