Peru: Cementos Yura Q4 profit falls by 20%

Cementos Yura has announced that its profits for4Q16 were down by 20.1 per cent YoY to PEN40.2m (US$12.4m), reports Business News Americas.

The firm saw sales revenues fall by 3.3 per cent, while administrative costs more than doubled as the firm paid a PEN25.7m penalty for cancelling a contract with a supplier. Cementos Yura was also negatively affected by foreign exchange fluctuations.

While local sales were little changed YoY at 0.61Mt, exports fell by 14.8 per cent to below 0.1Mt. Maintaining the level of local sales means that Cementos Yura’s share of the domestic market increased to 24.4 per cent as Peru’s overall consumption dropped by 7.5 per cent in Q4.