Cementos Argos 2012 Profits Up

Growth in cement and concrete sales helped Colombia cement producer Cementos Argos to increase its 2012 profits by 5.9 percent to $218 million, the company announced in a financial statement released last month.

Overall revenue was up by 23 percent to $2.44 billion in 2012 compared to 2011. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 29 percent to $440 million. Cementos Argos increased its cement sales by 6 percent to 10.8 Mt in 2012. The company’s Colombian division’s cement sales were up by 2 percent to 5.1 Mt; U.S. division, up by 13 percent to 1.6 Mt; and Caribbean division, up by 21 percent to 2.8 Mt.

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