Peru: UNACEM reported sales of US$1.69bn in 2023, up by 6.6% year-on-year, despite a ‘significant downturn’ in the construction market. Its net profit dropped by 22% to US$139m.
Business News Americas has reported that the Peruvian Cement Producers’ Association (ASOCEM) recorded 9% month-on-month growth in domestic cement consumption in January 2024. Scotiabank forecasts 5% year-on-year growth in consumption in the first quarter of 2024, and a 3.7% expansion in the construction market in the full year 2024, following an 8% contraction in full-year 2023.