Unacem reports 38% rise in 3Q net profit

Peruvian cement producer Unacem has reported revenues of PEN497.9m (US$147.7m) in the 3Q18, down 0.8 per cent from PEN501.8m in the 3Q17. Gross profit remained largely stable at PEN187.1m during the quarter, but operating profit rose seven per cent to PEN128.8m from PEN120.4m in 3Q17. Net profit in 3Q advanced to just under PEN49m, up 38 per cent from PEN35.5m in the year-ago period.

In the first nine months of 2018, Unacem saw its revenues rise by 5.7 per cent from PEN1.382bn in 9M17 to PEN1.461bn. Gross profit advanced 3.8 per cent from PEN551.3m in 9M17 to PEN572.3m in 9M18. However, operating profit fell by 18.1 per cent from PEN604.5m in 9M17 to PEN495.1m in 9M18 as the company saw a significant reduction in other operating income. Net profit declined 53.5 per cent from PEN542.6m in 9M17 to PEN252.4m in 9M18.