Peru: Unacem nine-month net income up 16.2%

Peru's largest cement producer Unacem boosted net income by 16.2 per cent over the nine months to the end of September 2015 due to higher prices and lower costs.

Unacem posted a PEN176m (US$55m) profit as sales rose 5.5 per cent to PEN1.37bn in the first three quarters of this year, the Lima-based company said in a corporate filing to securities regulator SMV. The company said it cut operating costs by 5.7 per cent and sales costs by 0.6 per cent.

Cement production rose 6.4 per cent to 1.43Mt in the third quarter, while clinker output advanced seven per cent to 1.32Mt, Unacem said.

Unacem said it increased its domestic market share to 50.8 per cent in the third quarter from 50.3 per cent in the previous three months.

Capex totaled PEN208m in the first nine months including investments at its Condorcocha and Atocongo plants and the Carpapata 3 hydroelectric project, it added.