Cemex Latam Holdings posts $22 mln net loss in fourth quarter

jueves 4 de febrero de 2016 10:37 GYT

BOGOTA Feb 4 (Reuters) - Cemex Latam Holdings, a subsidiary of Mexican cement maker Cemex, reported a $22 million fourth-quarter net loss on Thursday, due to currency fluctuations and lower sales.

The company posted a net profit of $64 million during the same period in 2014.

Fourth-quarter sales fell to $1.4 billion, 17 percent lower than in the same quarter of 2014.

"The fall is explained as a result of fluctuations in the exchange rate and the effect of lower volumes of cement in our operations in Colombia and Panama," the company said in a statement.

For all of 2015, net profits were down 65 percent to $95 million. Net debt fell to $1.03 billion, 9 percent lower than the year-earlier period.

Cemex Latam Holdings operates in Colombia, Brazil, Panama, Costa Rica, Guatemala, Nicaragua and El Salvador. (Reporting by Nelson Bocanegra; Writing by Julia Symmes Cobb; Editing by W Simon)