UPDATE 2-Mexico's ICA reports loss, but shares climb on 2015 outlook

viernes 27 de febrero de 2015 11:22 GYT

(Adds details on outlook, construction revenue)

MEXICO CITY Feb 27 (Reuters) - Mexican construction company ICA on Friday reported a fourth-quarter loss as its expenses and financial costs climbed, but its upbeat expectations for this year boosted its shares.

The company, whose full name is Empresas ICA, said it expected revenue to increase 10 percent to 12 percent in 2015 because of "a solid state of contracting and business abroad."

Shares of ICA were up 1.16 percent at 13.97 pesos in morning trading.

The company reported a fourth-quarter loss of 2.082 billion pesos ($141 million), compared with a year-earlier profit of 520 million pesos.

Revenue rose 42 percent to 10.962 billion pesos, helped by a pickup in the core construction business.

Revenue from that business, which includes energy joint-venture ICA Fluor and highway construction programs, almost doubled to 6.904 billion pesos.

ICA said sales costs and general expenses climbed, however, and financial expenses jumped to 3.806 billion pesos from 1.179 billion pesos as weakness in the Mexican currency drove up the cost of servicing dollar-denominated debt.

The peso slumped nearly 12 percent against the dollar in the fourth quarter.

($1 = 14.7475 pesos at end December) (Reporting by Elinor Comlay; Editing by Nick Zieminski and Lisa Von Ahn)