Colombia Cementos Argos Jan-June net up 79% To COP91.83bn

Colombia Cementos Argos Jan-June net up 79% To COP91.83bn
Published: 27 July 2007

Cementos Argos, Colombia’s largest cement company, said Thursday its net profit in the first half of the year increased 79% to COP91.83bn (US$46.5m) from COP51.22bn in the same period last year, according to a filing sent to the securities regulator.

The Medellin-based company said operating revenue increased 17% to COP1.924 trillion, Argos said.

EBITDA, totaled COP330bn in the January-June period, up from COP249.19bn in the same period last year.

During 2005, Argos bought two cement companies in the US for a total amount of $257m, and in the first quarter of last year it agreed to buy RMCC Group Inc, a U.S. ready-mixed concrete supplier, for $435m.