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Grupo Argos net profit up by nearly five times in Q3

11/11/2021 | 06:55pm

BOGOTA, Nov 11 (Reuters) - Net profit at Colombia's Grupo Argos rose by nearly five times in the third quarter to 375 billion pesos ($96.8 million), compared to the same period last year, amid favorable performance by its subsidiaries, the company said on Thursday.

Net profit at the industrial conglomerate was 78 billion between July and September last year.

Consolidated income was up 19.2% to 4.1 trillion pesos during the third quarter this year, the company said in a statement.

Meanwhile, EBITDA was up 35.2% to 1.15 trillion pesos because of higher sales.

Grupo Argos includes Cementos Argos, energy generator Celsia and airport and road concession firm Odinsa.

Net income was up 477% between January and September this year to 958 billion pesos ($247.2 million), compared with the same period last year.

($1 = 3,875.38 Colombian pesos) (Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb; editing by Diane Craft)

© Reuters 2022
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