Yura sees 7% fall in profit for the 1Q19

Peru’s Yura has posted a 7.1 per cent YoY drop in profits to PEN37.6m (US$11.3m) for the first quarter of 2019, with the decrease attributed to lower sales and greater sales costs.

Overall sales fell by 3.4 per cent to reach PEN222.6m. Domestic sales fell by 2.8 per cent due to lower public investment, while exports declined 41 per cent on the back of the launch of Yura production in Bolivia and lower demand in Chile.

Meanwhile, the cost of sales increased 6.4 per cent to PEN125.7m due to a greater clinker production cost among other factors. Cement production was down 5.3 per cent in the 1Q19 at 567,248t.