Petrochemicals unit pushes Mexico's Alfa to profit
MEXICO CITY, Oct 15 (Reuters) - Mexican conglomerate Alfa reported a third-quarter net profit compared to a loss in the year-earlier quarter, helped by stronger margins in its Alpek petrochemicals unit.
Alfa, which also has food packaging and car parts businesses, posted
Alpek helped boost overall results due to higher polyester margins, oil prices, and the acquisition of Brazil’s Petroquimica Suape and
Revenue for the quarter rose 23 percent to 93.94 billion pesos.
In the same period last year, Alfa reported a large loss in part due to financial problems of an Alpek client that was overdue on its bills.
In July, Alfa raised its forecast for 2018 earnings before interest, tax, depreciation
$1 = 18.7175 pesos at end-September Reporting by Christine Murray, Editing by Daina Beth Solomon and Bill Berkrot
Comments