Cementos Argos posts Q2 profit

Firm has reported USD 11.2 million net income for the period.

{reg}[PAID={"id":"1,2,3,4,5","title":"The content you tried to access is only available to paid subscribers.","link":"1"}]The Colombian company Cementos Argos reported in the second quarter net income of USD 11.2 million, reports Univision.

EBITDA was 244,000 million pesos (USD 130 million), 32% higher than the second quarter of 2012, the company said in a statement.

Argos attributed the growth to outstanding results in Colombia, United States and the Caribbean.

"We are very pleased with the results of the company in this quarter because we got a positive balance in the three regions where we operate with remarkable EBITDA level, the result of the good momentum of markets and advance our efficiency," said President Argos, Jorge Mario Velasquez.

At the end of the first half of 2013 Argos generated record EBITDA of 476,000 million pesos (about USD 253.2 million) up 25% against the same period last year. The companys consolidated revenues in the period reached 1.2 billion pesos (USD 638.2 million), standing for a 14% growth compared to the same period last year.{/reg}