Colombia's Cementos Argos nine-month net profit up 63 percent
BOGOTA Nov 23 (Reuters) - Cementos Argos, Colombia's biggest cement maker, said on Monday its net profit rose 63 percent between January and September to 372 billion pesos ($141 million) from the same period last year due to the economic recovery in the United States and higher sales in Colombia.
Net sales were up 35 percent in the first nine months of the year from 2014 to 5.74 trillion pesos ($2.17 billion).
Earnings before interest, taxes, depreciation and amortization jumped 41.5 percent to 1.1 trillion pesos ($420 million).
"Cementos Argos had double digit growth in income, EBITDA and net profits, figures sparked once again by recovery in the United States, better dynamics in the Colombian market and an operational efficiency program," the company said in a statement.
The company, which has 17 trillion pesos in assets, operates in Colombia, the United States, Central America and the Caribbean and is a subsidiary of holding company Grupo Argos . (Reporting by Nelson Bocanegra; Writing by Julia Symmes Cobb; Editing by Jeffrey Benkoe)
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