Peru: Peruvian cement producer Cementos Pacasmayo has reported that it more than doubled its net income in 2012, to US$61.6m from US$26.2m in 2011. Fourth quarter income was reported having increased by 41% year-on-year to US$15.5m from US$11m in 2011. Cementos Pacasmayo sold 617,500t of cement in the fourth quarter of 2012, a 14% rise from 540,800t sold in the same period in 2011.
"The strength in public and private investment, favourable financing conditions and the creation of high quality jobs resulted in higher cement sales volume," the company said.
Cementos Pacasmayo supplies cement to northern Peru, where about 22% of the population lives and which accounts for approximately 15% of Peru's national gross domestic product.