Chilean cement producer Cemento Polpaico increased consolidated net profits 18.3 per cent to 9.82bn pesos (US$18.2m) during the first half of this year, compared to the same period last year, the company reported to securities regulator SVS. In terms of sales volume, cement sales were up seven per cent to 737,000t while concrete sales increased 3.8 per cent to 967,000 cu m over the first half of 2005.
Polpaico forecasts a four per cent growth in revenue for this year, local paper Estrategia quoted Polpaico general manager Oscar Parada as saying.
The firm’s recently announced US$18m investment plan will focus mainly on expanding its concrete operations with a US$10m investment, including US$5m for the purchase of 40 new trucks and the remainder going towards the company’s three plants, he said.
Concrete sales represented 46 per cent of total revenues in 2005, and they have reached 48 per cent so far this year. Executives expect these sales to represent 50 per cent of the company’s total revenues by year-end. Polpaico is controlled by Holcim, which owns 53 per cent of the company’s shares.