Molins sees net 1Q15 profit up 132%

Spanish cement producer Cementos Molins reported a net profit of EUR15.1m in 1Q15, up 132 per cent YoY from EUR6.5m in 1Q14.

Although domestic sales improved by 7.1 per cent, the company said the advance was “insufficient”. EBITDA reached EUR2.1m, but net profit remained in the red. Its Mexican subsidiary Corporación Moctezuma posted a 37.3 per cent rise in sales while Argentina’s Cementos Avellaneda saw revenues increase by 51.1 per cent. In Uruguay, Cementos Artigos saw a 34.3 per cent improvement in sales.