Cemex Latam Q4 2014 profit more than doubles on year to $64 mln
BOGOTA Feb 4 (Reuters) - Cemex Latam Holdings, a subsidiary of Mexican cement maker Cemex, said on Wednesday it made a net profit of $64 million in the fourth quarter, a 144 percent increase from the same period of the prior year.
Net sales fell 13 percent to $400 million from the fourth quarter of 2013 when demand was bolstered by major roadworks in Colombia, by far the company's most important market with government-led infrastructure and housing investments under way.
Fourth quarter earnings before interest, taxes, depreciation and amortization (EBITDA) fell 15 percent to $134 million.
Bogota-traded shares in the company, which operates in Colombia, Brazil, Panama, Costa Rica, Guatemala, Nicaragua and El Salvador, were down 3 percent at 14,700 pesos ($6).
Full-year 2014 net profit rose 4 percent to $273 million with a 1 percent increase in sales to $1.725 billion. The company's debt was cut during last year by 13 percent to $1.14 billion, versus 2013.
($1 = 2,376.7500 Colombian pesos) (Reporting by Peter Murphy and Nelson Bocanegra; Editing by Chizu Nomiyama)
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