Chile's three largest cement producers sees 1H sales rise 3.7%

Chile's top three cement companies - Cemento Melon, Cementos Polpaico and Cementos Bio Bio - recorded a 3.7 per cent YoY rise in sales to CLP339.82bn (USD510.48m) in the first six months of 2016. This represents the lowest growth rate in three years.

Cementos Bio Bio's sales increased 6.6 per cent to CLP151.9bn as it was affected by the economic slowdown. Cementos Polpaico posted sales of CLP75.92bn, an advance of two per cent when compared with 1H15, on the back of better pricing as volumes fell by 1.7 per cent. The fall in sales was due a drop in concrete sales among mining companies in northern Chile. Cemento Melon saw its sales rise 1.2 per cent YoY to CLP111.99bn in Jan-Jun 2016 while its profit climbed 37 per cent to CLP8.63bn.