Colombia's Cementos Argos Jan-Sept net income soars 69 percent
BOGOTA Oct 28 (Reuters) - Colombia's biggest cement maker, Cementos Argos, on Tuesday posted a 69 percent jump in net earnings for the first nine months of the year to 217.5 billion pesos ($111 million), fueled by higher sales in the United States.
The company reported earnings before interest, taxes, depreciation and amortization (EBITDA) of 805 billion pesos ($415 million) between January and September, an 8 percent increase over the same period in 2013.
Revenue was up 16 percent to 4.25 trillion pesos, Cementos Argos, which is owned by holding company Grupo Argos, said in a statement.
"The performance in the United States maintains a healthy growth dynamic," the statement said. "Volumes of cement and concrete shipped showed growth of 59 percent and 27 percent respectively," the statement said.
Cementos Argos did not publish figures for the third quarter of the year alone.
Cementos Argos approved a $493 million bond issue earlier this month, after announcing in September that it would build a $450 million plant in central Colombia. ($1 = 2,069.72 Colombian pesos) (Reporting by Nelson Bocanegra and Julia Symmes Cobb, Editing by W Simon)
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