Peru: Cementos Pacasmayo has reported a rise in sales of 9.1% to US$197m for the second quarter of 2013 from US$180m in the same period in 2012. However the Peruvian cement producer's net profits were hit by negative exchange rate changes in the second quarter of 2013 and fell by 21.7% to US$8.38m. Despite the effects of the exchange rate drop, the company attributed its increase in sales to growing domestic demand for cement by so-called 'self-construction' projects.
The company's operating profit rose by 72.9% in the second quarter to US$27.9m from US$16.1m. Consolidated earnings before interest, tax, depreciation and amortisation rose by 60% to US$32.8m from US$20.5m. Total cement production increased year-on-year to 0.55Mt from 0.51Mt.
In its summary of quarterly events Cementos Pacasmayo reported that it obtained the approval of the environmental impact study in May 2013 for the construction of the new cement plant in Piura. Construction of the plant is expected to begin in the 'coming months.'
