Cemento Polpaico profits on reduced costs, Chile

Cemento Polpaico profits on reduced costs, Chile
Published: 04 March 2005

Chile’s Cemento Polpaico posted a COP14.888bn (US$25.2m) consolidated net profit in 2004, up 45.3% from the previous year, the cement maker reported to the country’s securities regulator (SVS). 

For the period, although revenue fell 2.38% to COP117.732bn, operating profit grew 33.1% to COP21.209bn due to reduced operating, administrative and sales costs. 

In the first half of 2004, Polpaico held a 33.5% share of the local market with 620,326t, behind Empresas Melon with 37.6% (696,423t) and above Cementos Bio Bio with 28.9% (534,268t). 

The previous year’s breakdown was Melon with 38%, Polpaico with 33% and Bio Bio 30%.