MEXICO CITY, July 29 ICA, Mexico's top
construction company held its growth view for 2010 on Thursday
as it lines up big infrastructure projects, from highways to a
refinery, for the second half of the year.
ICA (ICA.MX) ICA.N had forecast in April revenue growth
of between 15 and 20 percent this year and earnings before
interest, tax, depreciation and amortization (EBITDA) growth in
a range of 16 to 18 percent.
"We are still standing by our guidance for 2010, we are
very close to being where we should be to deliver it," Chief
Financial Officer Alonso Quintana told analysts during a
"The next semester definitely looks pretty bright," he
said, adding that ICA hopes to add four to five roads, a
refinery, aqueducts and a water treatment plant to its
construction pipeline, known as backlog.
Quintana said that while industrial construction is "packed
with work" it can take several months before those projects can
kick off as the company has to do a lot of research, planning,
and exchange views with the clients in advance.
Asked about ICA's plans for its airport business -- it
controls Mexican airport operator OMA (OMAB.MX) -- Quintana
said it was a long-term investment and did not plan to sell any
"We are not actively searching for a buyer ... (but) that
doesn't mean we are not open to good deals that give us cash to
keep growing in other sectors," Quintana said.
ICA posted on Wednesday a 12 percent fall in second-quarter
net profit from a year earlier, hurt by financial costs. But
civil construction and its airport business drove revenues up
18.5 percent in the period.
Its shares were down 0.19 percent at 31.65 pesos on
(Reporting by Cyntia Barrera Diaz; editing by Gunna Dickson)