Cemex Quarterly income rises, sales gain

Cemex Quarterly income rises, sales gain
30 January 2007

Cemex said net income rose 64% in the fourth-quarter to $416.7m from $253.4m in the prior year as the company benefited from increased sales in most of its markets. 
The Mexican cement giant (CX) said income per American Depositary Share reached 52 cents, compared with 35 cents in the prior year’s period.
Quarterly revenue rose to $4.47bn from $3.96bn in the prior year.
The company said sales increased in most of its markets due to higher cement, ready-mix, and aggregates volumes, as well as improved supply-demand dynamics. Public infrastructure and housing continue to be the main drivers of cement and ready-mix demand in most of the company’s markets, according to Cemex. 
Cemex added that fourth-quarter sales rose 11% to $911.2m in Mexico, while falling 11% to $923.3m in the United States. In Europe, excluding Spain and the United Kingdom, quarterly sales rose 34% to $1bn. 
Published under Cement News