Cementos Pacasmayo releases results for the first nine months of 2014

In January – September 2014, Peruvian cement producer, Cementos Pacasmayo S.A.A., recorded a slight improvement in net margin when compared to the corresponding period in 2013. The company’s gross margin dropped by 2.3 percentage points as a result of a lower gross profit in its concrete segment. Even though operating expenses fell during the first nine months of this year, Cementos Pacasmayo’s operating margin declined by 1.9 percentage points.

The company has reported a consolidated EBITDA of S/.251.7 million, which compares to S/.263.1 million in January – September 2013.

Cement sales volumes remained in line with those recorded in the first nine months of 2013, decreasing by just 0.1% y/y. Meanwhile, sales contracted by 0.4% y/y, with falling concrete sales mitigated somewhat by growing quicklime sales.

The company’s Piura plant project remains on schedule and on budget. Production is expected to commence in 2H15. The project represents an investment of around US$385 million.

Adapted from press release by Louise Fordham

Read the article online at: https://www.worldcement.com/the-americas/29102014/cementos-pacasmayo-results-for-january-september-2014-750/