February 28, 2013 / 2:00 AM / 4 years ago

Mexico's Mexichem posts Q4 loss as costs surge

* Plastic pipe maker posts net loss of 79.3 mln pesos

* Rising costs outweigh 38 percent jump in revenue

MEXICO CITY, Feb 27 (Reuters) - Mexican plastic pipe and chemical maker Mexichem slid into the red in the fourth quarter, as a jump in costs outweighed gains in revenue.

Mexichem booked a net loss of 79.3 million pesos ($6.1 million) in the October-December period, down from a 103 million peso net profit in the same period a year earlier.

Quarterly revenue rose 38 percent to 14.4 billion pesos but the cost of sales rose 44 percent to 9.9 billion pesos while general costs rose 72 percent to 4 billion pesos.

Prior to the release of the results, Mexichem shares fell 0.2 percent to 64.88 pesos on Wednesday. The stock has slumped from near a record high in early February after it reported weaker-than-expected fourth-quarter preliminary revenue.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below