Peru: Cementos Pacasmayo has reported a 17% drop in profit year-on-year for the third quarter of 2013 due to fall in cement sales. Its profit fell to US$13.9m in the July to September 2014 quarter from US$16.7m in the same period of 2013. Profit for the nine-month period rose by 3.4% to US$41.6m.
Net sales from the Peruvian cement producer fell by 6% year-on-year to US$108m for the third quarter of 2014. Sales remained static for the year to date. Consolidated adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) fell by 3.4% to US$29.9m for the third quarter of 2014. A similar fall in consolidated adjusted EBITDA was noted for the year to date. Cement production fell by 7.5% to 578,000t for the third quarter. Overall for the year to date cement production remained static at 1.73Mt.
In its earnings release Cementos Pacasmayo reported that its new cement plant in Piura should begin operation in the second half of 2015. The US$385m plant will have a production capacity of 1.6Mt/yr of cement and 1Mt/yr of clinker.