GCC achieves 23% YoY rise in 2Q sales

Mexican cement producer Grupo Cementos Chihuahua (GCC) announced a 22.6 per cent YoY rise in consolidated net sales to MXN4497m in 2Q17 from MXN3669m (US$242.4m). 

The company derives the majority of its sales in the US, where net sales advanced 28.9 per cent YoY to MXN3455m in 2Q17. In its home market of Mexico, sales expanded by 5.5 per cent YoY  to MXN1042m in 2Q17 when compared with 2Q16.

Cement price realisation in the second quarter improved 16.9 per cent in Mexico but was more muted at 6.7 per cent in the USA.

For the year to date, the company has seen consolidated net sales rise 30.4 per cent from MXN6030.7m in 1H16 to MXN7861.7 in 1H17. Sales in the US increased 37.6 per cent YoY to MXN5866.3m while domestic sales were up 12.9 per cent YoY to MXN1995.4m.

Cement prices increased 6.3 per cent in USA during 1H17, but there was a 17.7 per cent hike in Mexico over the period.