Colombia’s Cementos Argos 2005 net up
Cementos Argos SA , the biggest Colombian cement maker, said its net profit in 2005 fell three per cent to COP225bn (US$100.2m) from COP232bn the year before mainly because of lower prices in Colombia.
Its sales volume rose 41% in 2005 from the year before, though lower prices reduced profit margins, the company said in a filing to the financial regulator.
Last year, Argos bought two cement companies in the US for a total amount of US$257m.
The company’s debt rose 51% to COP1.2 trillion, as it sold US$200m in bonds to finance its acquisition
Published under Cement News
