Cementos Argos profit up 81 pct in 2015 to $147 mln

jueves 25 de febrero de 2016 10:14 GYT
 

BOGOTA Feb 25 (Reuters) - Colombia's top cement-maker Cementos Argos, a subsidiary of Grupo Argos, said net profit was up 81 percent last year due to market growth and efforts to make operations more efficient.

Profit was up to 491 billion pesos ($147.3 million), compared with profit of 272 billion in 2014, the company said in a statement late on Wednesday.

"The positive dynamic of markets in the United States, Colombia and various countries in Central America and the Caribbean spurred a good result," Cementos Argos said.

Earnings before interest, taxes, depreciation and amortization jumped 57 percent to 1.51 trillion pesos ($455.8 million).

Last year the company spent $18 million to buy a 60 percent stake in a Puerto Rican cement plant and concluded an expansion project at its Colombian Rioclaro plant, in which it invested some $125 million.

($1 = 3,332.54 Colombian pesos) (Reporting by Luis Jaime Acosta; Writing by Julia Symmes Cobb; Editing by Bill Trott)