Chile's Empresas Copec posts 9 pct rise in 2014 net profit

martes 10 de marzo de 2015 08:55 GYT
 

SANTIAGO, March 10 (Reuters) - Chilean industrial conglomerate Empresas Copec posted a nearly 9 percent jump in 2014 net profit versus a year ago due to the sale of its stake in the Guacolda thermoelectric plant, lower costs in its fishing unit and higher wood pulp sales.

Net profit rose to $856 million, while overall sales slipped 2.0 percent to $23.8 billion, and earnings before interest, taxes, depreciation and amortization (EBITDA) increased 3.2 percent to $2.0 billion, the company reported late on Monday.

Copec owns one of the world's biggest wood pulp producers and fishing companies, as well as the main fuel distributors in Chile and Colombia.

Net profit surged by almost 50 percent in the fourth quarter compared to a year earlier to $124 million. (Reporting by Anthony Esposito; Editing by Chizu Nomiyama)