Cementos Molins posts 1Q14 net profit of EUR6.5m

Spain-based Cementos Molins released its first-quarter 2014 results, showing a net consolidated profit of EUR6.5m, up 37 per cent when compared to 1Q13.

The group’s domestic companies saw a loss of EUR7.4m although they ‘improved’ their YoY results by increasing clinker exports and implementing cost-cutting measures, helping to mitigate the effect of lower sales in Spain.

Cementos Molins’ overseas subsidiaries posted a net profit of EUR14m on the back of increased sales by Corporación Moctezuma in Mexico and Sotacib in Tunisia. However, the market downturn in Uruguay and exchange rate fluctuations in Argentina impacted negatively on these results.