Enka and Eternit aim to be careful with profits

Enka de Colombia posted net profits of Peso$11.907bil last year, a dip of 49.3% compared to 2006, its exports hit by the rising value of the Colombian peso. Its dollar-based export sales rose 5.3% to reach US$66.2mil in 2007 and to signify a quarter of total sales. Polymer and fibre group Enka's Ebitda slipped Peso$6.616bil to Peso$25.732bil, explains the firm's president Alvaro Hincapie Velez.

Meanwhile, Eternit Colombiana has announced net profits in 2007 of Peso$2.97bil that it will look to store up for machinery replacements; this plan will first have to be approved by the upcoming Asamblea de Accionistas (AGM). Enka plans to do the same as well as righting losses from previous years. In 2006, the construction materials company Eternit posted net profits of Peso$9.551bil.

Publication: SABI - Business News
Provider: South American Business Information
Date: February 22, 2008

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