Polpaico 2006 profits up 8.6%

Polpaico 2006 profits up 8.6%
Published: 29 January 2007

Chilean cement producer Cemento Polpaico increased consolidated net profits 8.6% to 16.2bn pesos (US$29.9m) during 2006 compared to the previous year, the company reported to securities regulator SVS.
 
Revenues for 2006 were down 1.5% at 130bn pesos. 
 
Consolidated earnings rose, partly due to an increase in profits from related companies, lower non-operating costs, and a more favorable exchange rate, Polpaico said.
 
Cement sales reached 1.4Mt last year, while concrete sales were 1.8Mm3. 
 
The company, controlled by Holcim , had a 34% share of the domestic market at the end of last year.