Colombia: Cementos Argos has reported that its revenue rose by 34% year-on-year to US$740m in the first quarter of 2016 from US$553m in the same period in 2015. Its net income rose by 27% to US$33.4m from US$26.4m. The company attributed the gains to ‘healthy’ sales volumes in all of its markets with a particular emphasis in the US.
By region Cementos Argos saw its cement sales volumes rise by 47.3% to 935,000t in the US led by growth in the Carolinas, Alabama and Georgia. In Colombia its cement volumes fell by 17.1% to 1.48Mt due to lower growth in the central region of the country. Despite this the company increased its revenue in this territory in the quarter. In its Caribbean and Central American region the cement producer reported a rise of 14.4% to 1.11Mt in its cement sales volumes.