Empresas Melon increases profits

Empresas Melon increases profits
Published: 11 February 2004

Empresas Melon, the Chilean cement holding company which is owned by Lafarge, reported profits of Pesos$16,630mil in 2003, an increase of 6.7 per cent on profits of Pesos$15,589m in 2002. Operating profits increased by 7.7 per cent to Pesos$21,283m, helped by a 4.6 per cent rise in sales from Pesos$79,473m to Pesos$83,101m. Administrative and sales expenses increased by 19.6 per cent to Pesos$11,454m and operating costs increased by 0.4 per cent to Pesos$50,364m. Non-operating losses increased by Pesos$680mito Pesos$1,478m. Foreign exchange losses stood at Pesos$4,208m, compared with profits of Pesos$213m a year earlier.