Colombia: Growth in cement and concrete sales has helped Colombia's largest cement firm, Cementos Argos, to increase its 2012 profits by 5.9% to US$218m, the company has announced in a financial statement.
Overall revenue was up by 23% to US$2.44bn in 2012 compared to 2011. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose by 29% to US$440m. Cementos Argos increased its cement sales by 6% to 10.8Mt in 2012. In the company's Colombian division cement sales rose by 2% to 5.1Mt. In the US division cement sales rose by 13% to 1.6Mt. In its Caribbean division cement sales rose by 21% to 2.8Mt.
"There was a positive trend towards accelerated growth in segments in both infrastructure and construction in general," said the statement.