Fancesa sees rise in net profit and reinvestment

Fancesa of Bolivia reported a net profit of BOB255m in 2016, a rise of BOB6.2m when compared with 2015.

Some 60 per cent of net profit will be distributed between the three co-owners while 40 per cent will be reinvested in the cement company to pay for its new production line. The previous year, some 20 per cent of BOB248.8m generated net profits were reinvested.

"In this management has decided that 60 per cent of profits are distributed among co-owners and 40 per cent goes to reinvestment for the new production line, since we have to guarantee economic resources for the first issue Of bonds that the factory has made, the second and third that is projected, "said the General Secretary of the Interior, Eberth Almendras.

Of the total, BOB153m will be distributed between the San Francisco Xavier University, the Sucre City Hall and the Governorate of Chuquisaca, while BOB102m will be used for reinvestment.