July 5, 2013 / 4:35 PM / 5 years ago

UPDATE 1-Mexichem sees slide in 2nd-quarter sales, EBITDA

MEXICO CITY, July 5 (Reuters) - Mexican plastic pipe and chemical maker Mexichem said on Friday it expects to report second-quarter sales dropped 4 percent to 16.9 billion pesos ($1.36 billion).

Presenting its preliminary results, the company said in a filing with the Mexican stock exchange that it expects to report quarterly earnings before interest, taxes, depreciation and amortization (EBITDA) of 3.25 billion pesos, down 18 percent from a year earlier.

The company’s shares were down 5 percent in late-morning trading following the warning.

Mexichem said the weaker results were due to lower refrigerated gas prices, infrastructure project delays across the company’s core Latin American markets, and Europe’s shaky macroeconomic performance.

The company did not say when it would report full second-quarter results.

Shares of the industrial conglomerate fell 5.06 percent to 55.00 pesos at 11:24 a.m. local time.

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