Mexico's Pinfra boosts net income on new projects
Mexican construction firm and concessionaire Pinfra increased its net income 85.9% year-on-year in the fourth quarter, driven the construction of new projects and its concession division.
The company posted earnings of 1.55bn pesos (US$85.8mn) in the quarter, up from 838mn pesos in the same period of 2014, Pinfra said in a release.
Ebitda reached 1.46bn pesos, up 28.8% compared to 4Q14. Total fourth quarter revenues increased 37% y-on-y to 2.82bn pesos.
Revenues from concessions increased 13.1% year-on-year to 1.37bn pesos, driven by the Tlaxcala-Puebla and Peñón-Piramides highways.
Revenue from construction rose 93.1% to 1.24bn pesos.
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