Cicsa reports 33.8% increase in sales

- Thursday, July 28, 2011

Cicsa reports 33.8% increase in sales

Mexican construction firm Carso Infraestructura y Construcción (BMV: CICSA) reported a net profit of 149mn pesos (US$12.8mn) in the second quarter, a 21.6% advance over the same period last year.

Total sales grew 33.8% year-over-year to 3.4bn pesos, with 35.7% stemming from infrastructure works, according to the company's quarterly results report.

Ebitda for the quarter was 327mn pesos, up 18.9% compared with the prior-year period.

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The company posted net debt of 1.5bn pesos, a steep rise from 697mn pesos in 2Q10. This was attributed to recent investments in the Jack-Up Independencia 1 rig, the first of its kind to be built in Mexico.

Cicsa is part of Grupo Carso. The company's portfolio of projects currently includes the Atotonilco wastewater treatment plant, the Tenango-Ixtapan de la Sal highway, the Culiacán bypass and line 12 of the Mexico City metro.

For the company's full report, in Spanish, go to this link