Cementos Lima Q1 profits

Cementos Lima, Peru’s leading cement producer, has reported an increase in net profit of 3.6 per cent for the first quarter 2004 on net sales of 137mn soles (US$39.4m) compared to 132m in the same period in 2003, according to information filed with the Lima stock exchange (BVL).  The company recorded net profit of 25.9mn soles for the period, up 3.9 per cent from 24.9m soles in 2003.  Operating profit of 38.1m soles was down 0.3 per cent from 38.2m soles in 2003.  Cementos Lima supplies cement to markets in central Peru, has a 39 per cent market share and also exports to the US.

Cementos Pacasmayo, the country’s third ranking cement producer, achieved Q1 net profits of 15.8mn soles (US$4.53m), down 2.0 per cent from 16.1m soles in 1Q03. period. The company recorded net sales of 72.7m soles in 1Q04, up 8.9 per cent from 66.8m soles in 2003. Operating profit of 23.7m soles was up 5.8 per cent from 22.4m in 1Q03. Cementos Pacasmayo supplies cement to markets in northern Peru and has an 18 per cent market share.