Cementos Yura sees 30% 3Q net profit fall

Peru-based Cementos Yura saw its net profit fall by 30 per cent YoY to PEN52m (US$15.4m) in the third quarter of 2018. The company has attributed the slide to a lower gross profit as the cost of sales increased 14 per cent YoY to PEN146m due to higher clinker production costs.

Sales increased to PEN261m with domestic shipments up four per cent due to higher demand for the Yura and Frontera brands. Exports contracted by 35 per cent YoY in the third quarter. The loss in exports was due to the start of production of the Yura brand in Bolivia and the lower demand in the Chilean market.

However, in the first nine months of 2018 net profit expanded by 20 per cent to PEN191m when compared with the 9M18. Sales advanced by two per cent to PEN725m.