26 February 2009 00:29 [Source: ICIS news]
(Adds net loss information in paragraphs 1-2)
Mexichem reported a net loss of Ps1.28bn, according to Reuters.
However, Mexichem’s fourth-quarter 2008 operational profit (earnings before interest, tax, depreciation and amortisation), was Pesos (Ps)1.26bn ($84m), 1% higher than the same quarter of 2007, the company said.
Fourth-quarter sales were 25% higher at Ps8.45bn as volumes fell 3.9% from a year earlier, but the company said it managed to raise average prices by 29.6%.
During 2008, Mexichem acquired Brazilian PVC tube firm Plastubos, Argentine agriculture services firm Dripsa and
“For the first quarter of 2009, we expect growth in dollar terms of around 3% in sales, despite the situation of the global markets, thanks to the geographic diversity and broad range of products,” Mexichem added.
($1 = Ps14.82)
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