Colombian infrastructure group Argos has been working on debt reduction and optimizing its portfolio, and the results have begun to show. The group's net income in the second quarter reached 233bn pesos (US$77mn), an 8% increase year-on-year, despite the fact that revenues only rose 1% to 3.6tn pesos.
The results were attributed to the positive performance of its concessions and energy units, as well as efforts to reduce debt, especially at cement division Cementos Argos, according to the latest financial reports from the holding company and its subsidiaries.
The group is advancing a US$1bn capex program for 2018 in all its main divisions.
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