Peruvian cement producer Cementos Lima has reported net profit of 91.3m soles in 2003 down 4.8 per cent from the 95.9m soles in 2002.

Profits fell despite a 0.7 per cent increase in sales to 528.5m soles in 2003 from 2002, due to strong clinker exports. Higher sales were however neutralised by higher costs of sales, particularly for exports and lower prices according to the company.