Colombia: Cementos Argos’ net income has risen by 27% year-on-year to US$96.5m in the first half of 2016 from US$75.9m in the same period of 2015. Its revenue rose by 26.5% to US$1.51bn from US$1.20bn and its cement sales volumes rose by 2% to 6.98Mt from 6.84Mt. The company’s growth in revenue was driven by growing sales in the US.

“The disciplined execution of our internationalisation strategy has allowed us to continue obtaining good results, especially in markets such as the US, a country that keeps representing opportunities for Argos’s sustainable growth and that, added to our other geographies’ performance, enables us to continue contributing to the development of the countries and territories where we operate, through the construction of roads, bridges, homes and other projects in which the dreams of millions of people are materialized,” said Juan Esteban Calle, the CEO of Cementos Argos.

By region the cement producer reported that sales volumes fell by 14.8% to 2.92Mt in Colombia along with a slight fall in sales revenue. In the US its cement sales volumes grew by 29% to 2Mt and its sales revenue rose by 19.7% to US$700m. In the company’s Caribbean and Central American division its cement sales volumes rose by 6% to 2.52Mt and its sales revenue rose by 3.7% to US$283m.