July 26, 2017 / 11:22 AM / a year ago

Mexico's Cemex posts 41 pct increase in second-quarter profit

MEXICO CITY, July 26 (Reuters) - Mexican cement producer Cemex posted on Wednesday a 41 percent jump in second-quarter profit, beating expectations, helped by lower financial expenses.

Cemex, which has operations in over 50 countries, said it earned $289 million in quarterly net profit, compared with $205 million a year earlier. A Reuters poll forecast earnings of $222 million.

Consolidated sales slipped 1 percent in the quarter to $3.58 billion but grew 2 percent when adjusted for currency fluctuations and disinvestments, the company said.

“The increase (in sales) on a like to like basis was due to higher prices of our products, in local currency terms in Mexico and the U.S., as well as higher volumes in our Europe region,” said Cemex. (Reporting by Anthony Esposito; Editing by W Simon)

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