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Cementos Lima 3Q03 profit slips 2.44%

Bnamericas
Peruvian cement firm Cementos Lima posted a 24mn soles (US$6.9mn) net profit in the third quarter, down 2.44% from 3Q02, the company said in a statement to the country's securities regulator, Conasev. Sales were up 5.56% to 139mn soles in the quarter, while operating profit fell 12% to 38.2mn soles. For the January-September period, Cementos Lima posted a 71.7mn soles net profit, down 5.67% from the same period last year; sales increased 1.3% to 399mn soles; and operating profit dropped 12.6% to 110mn soles. Increased sales and administrative costs impacted results. Domestic cement sales in the quarter totaled 378,600t, down 1.7% from 3Q02, while sales for the first nine months of this year increased 1% to 1.11Mt. Cementos Lima has a 39.1% share of the market, followed by Cemento Andino (22.6%), Cementos Pacasmayo (18.7%), Cemento Yura (12.8%), Cemento Sur (3.5%) and Cemento Selva (3%).

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