Cemex ADRs down marginally

Cemex ADRs down marginally
Published: 19 December 2005

ADRs in Mexican cement giant Cemex SA down 0.6 per cent at $60.11. Earlier, the firm said it expects to meet its profit targets for 2005 after nearly doubling sales through a major acquisition and that it will end the year with debt below its comfort level. Total sales nearly doubled in the fourth quarter to $3.9bn, and will likely end the year up 88 per cent at US$15.3bn, Cemex said. "All segments of cement demand in the United States have been strong during the year. Spending in highways and infrastructure continue strong as states’ fiscal conditions have improved," Cemex said.