Colombia: Cementos Argos reported net losses of US$15.6m in the first quarter of 2017, in contrast with a US$340m profit in the first quarter of 2016. The losses were influenced by the company's operations in Colombia, currency exchange losses and non-recurring expenses associated with implementing an efficiency plan, along with a depreciation of its assets in the United States.
The company's operating revenues also fell by 6% year-on-year to US$719m by the end of March 2017, while its earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 35% to US$93.8m.