Colombina grows net profits 20%

Colombina has registered net profits of Peso$11.047bil in the first quarter of 2008, a rise of 20% over the same period in 2007 for the Colombian firm despite the negative effect, said to be 16%, the strength of the Peso has had on its exports. Close to signing a new collective agreement with employees and planning to issue ordinary bonds or commercial papers this year, ColombinaĆ¢€™s dollar exports rose 13% in the quarter but slipped 2% in local currency; meanwhile, internal market sales rose from Peso$70.441bil to Peso$76.57bil and financial costs shot up by 66% due to debt taken on in buying in machinery and equipment by the company.

Publication: SABI - Business News
Provider: South American Business Information
Date: May 1, 2008

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