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Colombia's Grupo Argos says 1st-half net profit up 16% to $77 mln [Reuters]

Summit Materials, Inc (SUM)  More Company Research Source: Reuters
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PDF Colombia's Grupo Argos says 1st-half net profit up 16% to $77 mln - Reuters 2 Min Read BOGOTA, Aug 13 (Reuters) - Colombian industrial conglomerate Grupo Argos said on Tuesday its net profit increased 16% in the first half of the year to 265 billion pesos ($77 million) compared with the year-ago period. The company, whose subsidiaries include cement-maker Cementos Argos and energy company Celsia, did not include figures for the second quarter in its filing to the country’s financial regulator. “Various milestones that will have positive impact in the long-term materialized in this period,” chief executive Jorge Mario Velasquez said in a statement. Those milestones include “the incorporation of the transmission and distribution assets of our subsidiary Celsia for close to 2 trillion pesos and financial optimization operations in our concessions business, which included bond issues for close to 2.5 trillion pesos,” he said. Earnings before interest, taxes, depreciation and amortization [Read more]
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