Tough Q4 gives Cementos Lima results dip

Tough Q4 gives Cementos Lima results dip
Published: 03 February 2004


Cementos Lima has reported a net profit of 81.1mn soles (US$23.3mn) for 2003, down 4.7 per cent from 85.3mn soles in 2002, according to a company results statement, due to a slowdown in public sector infrastructure investment during the final quarter, Class & Asociados analyst Mariena Pizarro told BNamericas. The company, Peru’s leading cement producer, recorded sales of 607mn soles during the year, down from 611mn in 2002.  Pizarro said the results were very good considering the year-end paralysis of public works and low price levels. "It is a very organized company, with little debt, good profits, low costs, a high capacity plant, and is very efficient," she told BNamericas.  The cement market is expected to strengthen in 2004, particularly in the road construction and housing sectors. Cementos Lima, which supplies the central and capital region, has a 40-50% market share.