Mexico's GAP 2nd qtr net rises 8.2 pct yr/yr
MEXICO CITY, July 27 |
MEXICO CITY, July 27 (Reuters) - Mexican airport operator Grupo Aeroportuario del Pacifico (GAP) said on Wednesday that profits rose 8.2 percent in the second quarter from a year earlier due to lower tax costs.
GAP (GAPB.MX) (PAC.N) said in a filing with the Mexican stock exchange that it earned 189 million pesos during the period ($16 million).
GAP is in a dispute with copper miner Grupo Mexico (GMEXICOB.MX), which is seeking control of the airport operator. Grupo Mexico has been steadily buying shares in GAP and now holds more than 10 percent of the company, which is more than is allowed by GAP's bylaws.
GAP said in the stock exchange filing that a court ruled on July 25 that market regulators would have to wait to decide on Grupo Mexico's bid until the shareholding dispute is resolved.
($1 = 11.71 pesos) (Reporting by Veronica Gomez and Mica Rosenberg; Editing by Gary Hill)
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