Cementos Argos profit doubles to US$62.1m Jan-Sept 2007

Cementos Argos profit doubles to US$62.1m Jan-Sept 2007
Published: 01 November 2007

The net profit of Colombian cement products manufacturer Cementos Argos almost doubled to COP124bn (US$62.1m) in January to September 2007, from COP53bn (US$26.6m) a year ago, the company said on October 29, 2007.  
 
Consolidated operating profit stood at COP253bn (US$126.8m), while EBITDA amounted to COP496bn (US$248.6m).  
 
Cementos Argos cement sales rose by 13 per cent to 3.28Mt, while concrete sales stood at 1.1Mt, marking an increase of seven per cent.  
 
Exports of cement, clinker and lime totalled 1.7Mt, generating a revenue of US$123m.  
 
Exports to the United States declined by some six per cent, due to a standstill in the housing construction market and to unfavourable weather conditions in the regions where the company operates.