Spain: Cementos Molins 1Q16 profit up 1.7%

Spain: Cementos Molins 1Q16 profit up 1.7%
03 May 2016

Cementos Molins posted profits of EUR15.36m for Jan-Mar 2016, up 1.7 per cent YoY. However, sales reached EUR130.69m, 10.2 per cent down when compared with 1Q15.

The business result was impacted by a contraction in Spain and to some extent, the negative impact of foreign currency depreciation, especially in Argentina and Mexico. Nevertheless, the Argentinian and Mexican businesses led the improvement in results with better margins compensating for their currency depreciation. Uruguay saw a contraction in demand while the market in Tunisia is improving. Bangladesh continues its expansion, but capacity rises are putting a downward pressure on prices.

In terms of investments, Cementos Molins is currently working on projects in Mexico, Bolivia and Colombia.

Published under Cement News