Cemex Latam Holdings net profit fell 9 pct in third quarter
BOGOTA Oct 22 (Reuters) - Cemex Latam Holdings (CLH), a subsidiary of Mexican cement maker Cemex, said on Wednesday a decline in sales led net profit down 9 percent in the third quarter compared with the same period a year earlier.
Net sales fell 3 percent year on year between July and September to $460 million, the company said in a statement, as the number of housing construction projects declined.
The company's earnings before interest taxes depreciation and amortization (EBITDA) year-on-year for the third quarter slipped 5 percent to $160 million, because of a fall in prices for CLH's products and a reduction in housing projects, the statement said.
The company's net debt fell 19 percent year on year to $1.08 billion at the close of the third quarter.
CLH's net profit between January and September fell 12 percent to $209 million, compared with the same period in 2013.
Though net sales in the nine months through September were up 3 percent year on year to $1.32 billion, EBITDA contracted 7 percent to $443 million.
CLH operates in Colombia, Brazil, Panama, Costa Rica, Guatemala, Nicaragua and El Salvador. (Reporting by Nelson Bocanegra and Julia Symmes Cobb; Editing by Meredith Mazzilli)
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