CBB sees 67% rise in profit

Chilean cement producer CBB (formerly known as Cementos Bío-Bío) reported a 13.9 per cent advance in revenues to CLP134.538bn in the first six months of 2021 from CLP118.124bn in the 6M20.

The company’s profit attributable to shareholders increased by 66.7 per cent YoY to CLP7.205bn in the 6M21 from CLP4.323bn in the 6M20.

In its cement business the company nearly quadrupled its operating profits, mainly from a low base as COVID-19 impacted cement dispatches in 2020.

In its concrete business, margins improved, but operating profits in the lime business fell 26 per cent despite an increase in dispatches. Higher electricity and fuel costs and an increased need for imported inputs affected business margins.