Peru’s Cementos Lima 1Q net falls

Peru’s Cementos Lima 1Q net falls
Published: 24 April 2009

Cementos Lima SA said Thursday that its first-quarter net income totaled PEN42.7m (US$13.8m) compared with PEN52.6m in the same quarter in the previous year.

The decline was due mainly to increased operating and financial costs.

The company said that total revenue rose to PEN234.0m in the first quarter compared with PEN204.5m in the same period a year earlier.

The company said that cement production fell in the first quarter to 738,085 metric tons, down 5.5% compared with the last quarter of 2008.

The decline was due to weakness in demand in the local market, it said.