Cementos Argos net profit rises

Cementos Argos net profit rises
Published: 01 March 2011

Cementos Argos SA, Colombia’s largest cement company, posted a consolidated net profit of COP288.8bn (US$156m) in 2010, a 37.7% increase in peso terms from a year earlier.

The company attributed the increase to one-time revenue from the sale of its stake in investment holding group Grupo de Inversiones Suramericana SA (GIVSY) to its parent company.

Cementos Argos’ consolidated operating income for 2010 stood at COP3trn, a 12.4% decrease from a year earlier. Consolidated income includes the results of all the company’s units in Colombia and abroad.