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UPDATE 1-Mexico's ICA first-quarter net up 91 pct
April 26, 2010 / 2:25 PM / 8 years ago

UPDATE 1-Mexico's ICA first-quarter net up 91 pct

* Net rises 91 pct, revs up 2 pct

* Lower financing costs lift profits

*

MEXICO CITY, April 26 (Reuters) - Mexican construction firm ICA ICA.N posted on Monday posted a 91 percent increase in first-quarter net profit, helped by lower financing costs and slightly higher sales.

ICA said it earned up 216 million pesos ($17 million) in the first three months of the year compared with 113 million pesos in the year-earlier period.

Revenue rose 2 percent to 7.004 billion pesos compared with 6.853 billion in the same quarter of 2009.

The company said it expects to see revenue grow 15 percent to 20 percent in 2010 and estimated it will post an EBITDA margin of 16 percent to 18 percent. ($1 = 12.387 as of end-March) (Reporting by Michael O‘Boyle and Cyntia Barrera Diaz, editing by Gerald E. McCormick)

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