Peruvian cement manufacturer Cementos Pacasmayo S.A.A. achieved an increase in both net income and consolidated EBITDA in 1Q15. The latter grew by 10.5% from S/.80.7 million in 1Q14 to S/.89.2 million in 1Q15. Net income rose by 31.4% y/y to S/.52.3 million, boosted by a higher gross profit and positive exchange rates. Cementos Pacasmayo’s gross margin also improved, increasing from 40.6% to 43%. However, cement sales volumes fell by 5.6% y/y. This decline has been attributed to lower demand from the public sector.
The Piura cement plant project is on track in terms of both time and budget. Electrical work has commenced and almost all equipment is now onsite.
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/the-americas/05052015/cementos-pacasmayo-1q15-results-775/