Argos reports solid start to the year

Argos reports solid start to the year
Published: 28 May 2015

Argos reported a solid first-quarter results, with a double-digit rise in cement volumes and  price recovery in both Colombia and the US.

Consolidated revenues in the first quarter grew 27 per cent YoY, reaching COP1.7trn (US$669m). EBITDA was up by 18 per cent to COP307bn supported by structural improvements in al regional divisions as the group reported continuous achievements in operational efficiencies an discipline across al fronts of its organisation.  Net income for 1Q15 stood at COP79bn, up three per cent YoY.

Total cement dispatches were up 18 per cent YoY to 3.2Mt in the first three months of the year, while ready-mix concrete volumes rose by seven per cent to 2.5Mm3.

To continue reading this story and have 100% free access to the website, please Register for a subscription to International Cement Review or Login