Cementos Argos 1Q net profit up, Colombia

Cementos Argos 1Q net profit up, Colombia
Published: 27 April 2006

Colombian cement and cement products maker Compania de Cementos Argos posted a net profit of COP19.552bn (US$8.2m) for the first quarter of 2006. 
The company decided not to compare the profit figure with the one, registered for the same period of 2005, because in that period it had not yet merged its operations with Grupo Antioqueno. 
Cementos Argos said that its non-consolidated operating revenue totalled COP244bn (US$102.7m). The company sold 960,000t of grey cement, up four per cent YoY, 335,000m3 of concrete, up 21 per cent, and 243,000t of cement additives, up 25 per cent. 
Cementos Argos domestic and foreign sales totalled US$270m, up 27 per cent, due to the rising demand and prices.
Cementos Argos is the fifth largest cement maker in Latin America with a capacity of 1.5Mt of cement and 5.6Mm3 of concrete per year, with assets in Venezuela, Haiti, Panama and the Dominican Republic, exporting to 25 countries.