December profit but full-year deficit remains for INC

December profit but full-year deficit remains for INC
Published: 27 January 2014

Tagged Under: INC Paraguay Latin America Results 

Paraguay’s Industria Nacional de Cemento (INC) grossed PYG4bn (US$860,080) in December, according to its president, Jorge Mendez. It is the third-consecutive month that the cement producer returns a positive balance and the company attributes it to the implemented financial and commercial measures.

However, while in the October-December period, profits reached PYG7.435bn, for the full-year 2013, the company remains in deficit at PYG20bn.

The state-owned cement producer has a current output of around 50,000 bags per day but aims to increase this to 60,000 in 2014 as it carries out reforms at the Villeta and Vallemí, changes fuel type and buys a pozzalana dryer. The programme comes at a cost of US$100m, which will be entirely financed by loans.