Mineros SA leads the way among Colombian firms in first semester

Deceleration has not hit all of Colombia's big firms in the first semester of 2008, companies such as Ecopetrol, ISA, Cementos Argos, Holcim and Grupo Nacional de Chocolates all offered up decent profits as did Mineros SA; thanks to a sale of assets and high gold prices, the mining group was able to post profits of almost Peso$20bil up to June 30, 2008 (when a year earlier it had managed Peso$15.9bil). Mineros SA reported extraordinary profits of Peso$5.34bil via the sale of its subordinated operation Mineros Nacionales. Meanwhile, Cementos Argos posted profits of over Peso$100bil this time around compared to Peso$90bil a year earlier; divestments should earn the firm another Peso$160bil in the second half of 2008.

Publication: SABI - Business News
Provider: South American Business Information
Date: July 15, 2008