Mexichem posts higher second-quarter profit

Wed Jul 25, 2012 2:24pm EDT

* Q2 profit 1.553 bln pesos vs 1.326 bln pesos yr ago

* Revenue up 43 pct at 17.6 bln pesos

MEXICO CITY, July 25 (Reuters) - Mexican industrial conglomerate Mexichem posted a 17 percent increase in second-quarter profit on Wednesday, helped by higher prices and acquisitions made earlier this year.

Profit rose to 1.553 billion pesos ($116 million) from 1.326 billion pesos in the second quarter last year.

Second-quarter revenue rose 43 percent to 17.6 billion pesos from 12.3 billion pesos a year earlier, in line with the company's forecast.

Mexichem bought a Mexican fluorite producer Fluorita in the first quarter and in the second quarter it bought Dutch peer Wavin. Both deals helped boost sales, the company said.

Mexichem shares were down 1.4 percent at 59.60 in local market trading.

FILED UNDER:
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article