UPDATE 1-Mexican construction firm ICA swings to 1st-qtr loss
(Adds details on revenue)
MEXICO CITY, April 28 (Reuters) - Mexican builder ICA swung to a loss of 23.8 million pesos ($1.82 million) in the first quarter, dragged down by higher financing costs, the company said on Monday.
Last year, the construction company posted a profit of 164 million pesos in the January-March period.
After exchange rate fluctuations netted the company a gain of 842 million pesos during the first three months of last year, the company had to book a loss of 51 million pesos this quarter, it said.
The company said its revenue rose to 7.98 billion pesos, 28 percent above the 6.23 billion pesos it earned in the year ago period, boosted by growth in its construction and concession businesses.
- U.S. man sues soccer star Cristiano Ronaldo over CR7 trademark
- Moscow fights back after sanctions; battle rages near Ukraine crash site |
- Netanyahu vows to complete Gaza tunnels destruction |
- Argentina defaults but investors see eventual deal possible
- Obama to Republicans: ‘Stop just hatin’ all the time’