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Quarterly earnings of cement company Argos rose – companies – economy



This result corresponds to the third quarter of 2018 and represents an increase of 87.7 percent.

Cementos Argos almost doubled the profit in 2016

The revenues of the cement company in the first quarter amounted to 6.3 trillion pesos. The amount of cement and concrete increased by 2.2% and 1.3%, according to the balance sheet.

Would be:

Economy and business

November 13, 2018, 10:43 am.

Cementos Argos achieved a consolidated net profit of 126,900 million pesos in the third quarter of this year, an increase of 87.7%.

A good part of these results was the product of the increase in cement and concrete production in the markets USA, Colombia and the Caribbean and Central America, as well as improving the debt profile by obtaining a syndicated loan for $ 600 million, the firm said.

This cement dynamics allowed in the third quarter of 2018 to increase revenues of more than 6.3 trillion pounds. According to the balance presented on Tuesday, ebitda (profit before interest and taxes) reached 1.1 trillion pesos, for a growth of 6.1%.

The report also highlights the rise in concrete between 1.3 percent and 2.2 percent in cement. Only in Colombia, this other variable added 1.3 million tons and rose 1.7 percent. Even with infrastructure projects and construction work, deliveries of third-quarter concrete amounted to 765,000 cubic meters, an increase of 3.2 percent.

But in the accumulated year, deliveries of this and cement fell by 5.3 and 4.9 percent. In Caribbean and Central America, operations in Puerto Rico, East Caribbean and the Dominican Republic are highlighted, while in the United States. UU. Hurricane Florence hit an operation in North Carolina and South Carolina.

ECONOMY AND BUSINESS

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