Cemento Melon sees 57% 3Q profit drop

Cemento Melon, Chile, reported a 56.8 per cent drop YoY in profits to CLP5bn in 3Q17.

Sales have fallen 13.6 per cent to CLP136.5bn when compared with the year-ago period, when revenues reached CLP108.669m. The cement producer has attributed the decrease to a contraction in the construction market.

The company, which is owned by the Peru-based Brescia Group, said the fall in sales has been partially offset by a greater focus on margins and the introduction of operational efficiency plans, which have helped cut production costs.