Mexico's GCC sees 32% hike in EBITDA in 3Q16

Grupo Cementos Chihuahua reported a 32.3 per cent rise in EBITDA in the 3Q16, supported by an 11.5 per cent increase in US sales, a price hike due to the depreciation of the Mexican peso against the dollar.

"Net sales (consolidated) in the third quarter of 2016 increased 10.2 per cent over the same period of 2015, totalling MXN4,287m. This increase is a result of higher volumes of cement in Mexico and concrete in the US," explains the firm in its report to the Mexican Stock Exchange (BMV).

GCC’s net income increased 45.3 per cent on the back of the strong operating performance and lower financial costs while its gearing level fell from 2.16 to 1.42.