Cementos Pacasmayo's Region Shows Growth, But The Name Is Still A Hold

  • Cementos Pacasmayo's Q1 results showed revenue growth from recovering demand and infrastructure projects, but higher SG&A offset margin gains. Dividend yield remains attractive at 10%, supported by a 100% payout policy and stable debt, but growth prospects are limited. Earnings growth remains elusive post-capacity expansion, with flat EBITDA and no clear catalysts for rerating or significant upside.