GCC posts US$9.7m loss in 3Q, Mexico

GCC posts US$9.7m loss in 3Q, Mexico
Published: 03 November 2011

Mexicos’ Grupo Cementos de Chihuahua (GCC) posted a loss of MXP131m (US$9.7m) in the third quarter of this year, compared with a net gain of MXP138mn in 3Q10.

The company sold off its 47% stake in Bolivian cement firm Soboce on 19 August at a loss of MXP284m. The result was also affected by the appreciation of the peso against the dollar, GCC said in its quarterly results report.

Net sales grew 8.2% to MXP.29bn compared with MXP2.12bn in 3Q10, while operating income was up by 14.8% to MXP312m. EBITDA climbed 3.3% YoY to MXP533m.