Mexico’s GCC 3Q net profit rises 22.1 per cent

Mexico’s GCC 3Q net profit rises 22.1 per cent
Published: 24 October 2007

Mexican cement company Grupo Cementos de Chihuahua (GCC) said Tuesday its third-quarter net profit rose 22.1% on robust sales in Mexico and the US.  
In a statement GCC said net profit reached MXP526.8m (US$48.7m) in the third quarter, up from MXN431.6m in the year-ago period.  
Net sales rose 10.6% compared with the year-ago period to MXN2.4 billion. Sales grew 12.8% in the U.S. and 11.7% in Mexico, its main markets. The company said U.S. sales were driven by commercial investments in the markets where it operates, while Mexican sales were driven by strong investments in public infrastructure projects.  
Operating profit grew 7.8% to MXN667.8 million, and earnings before interest, taxes, depreciation and amortization - or EBITDA - rose 8.1% to MXN832.5 million.