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Mexichem reverses loss in Q3

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Mexican chemical and petrochemical company Mexichem reported net income of US$52.8mn in the third quarter, compared to a net loss of US$62.8mn in the year-ago period.

"This increase was primarily due to the impact of discontinued operations in the fluor chain on 3Q13 results," according to a company statement.

Net sales were up 8% year-on-year to US$1.429bn, boosted by the performance of resins, compounds and derivatives and integral solutions.

In January-September, net income jumped 80% year-on-year to US$152mn from US$84mn. Sales rose 8% to US$4.212bn. South America accounted for 30% of the company's total sales in the third quarter.

Article Credit: Bnamericas

Updated 4 Years ago

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Tags:     Mexichem     Net sales     Income