UPDATE 1-Mexico's Grupo Mexico says third-quarter profit up 12 pct

martes 28 de octubre de 2014 12:26 GYT
 

(Adds revenue, details on metals prices, toxic spill)

MEXICO CITY Oct 28 (Reuters) - Mexican metals miner and railroad operator Grupo Mexico said on Tuesday its third-quarter profit rose 12 percent, as higher sales from its infrastructure and transport units offset falling metals prices.

The company reported a profit of $485 million, up from $434 million in the year-earlier period.

Revenue rose 5.7 percent to $2.459 billion helped by a broad pickup in freight traffic, particularly in the transport of beer and autos, on Grupo Mexico's rail network.

The company's infrastructure unit, which includes oil rigs and a highway project, reported that revenue more than doubled in the quarter to $190 million.

Revenue from mining, which makes up the bulk of Grupo Mexico's businesses, rose just 0.9 percent to $1.798 billion.

Grupo Mexico last month managed to avoid losing a concession to run one of the biggest copper mines in the world by bowing to government demands that it fund a multimillion-dollar cleanup of a toxic spill site in northern Mexico.

The company said it will create a $151 million clean-up fund after a leak released 40,000 cubic meters of mining acid into the Bacanuchi River in Sonora state. (Reporting by Elinor Comlay; Editing by Tom Brown)