Peruvian producer Cementos Pacasmayo's net income increased 24 per cent in 2014 to PEN188.8m (US$61.3m) as a result of operating efficiencies, a reduction in administrative expenses and lower losses from currency movements.

Operating margin increased 0.6 percentage points in 2014, compared to 2013, mainly explained by lower administrative expenses, and an extraordinary income.

Consolidated EBITDA increased 4.7 per cent (PEN365.3m in 2014 versus PEN348.9m in 2013).

Cement sales volume remained flat in 2014, compared to 2013.

The company’s 1.6Mta Piura plant project, remains within the timeline and budget planned. Production is scheduled to begin during the second half of 2015, it added.