Mexico City. The Mexican cement company Cemex, one of the largest in the world, said on Monday that its net profit soared 222 percent in the quarter, to $406 million, despite a drop in its revenue and operating flow.
Cemex, with operations in America, Europe, Africa, Asia and the Middle East, reported a decline in its net sales of 3 percent to $4.9 billion, compared to the July-September 2023 period.
The lower revenues were dragged down by a 5 percent drop in its sales in Mexico and a 4 percent drop in the United States, its two main markets, which overshadowed a 1 percent increase in its billings in the Europe and Middle East region. and Africa.
The cement company’s operating flow decreased 9 percent year-on-year in the third quarter to 747 million dollars, hit mainly by climatic effects.
In the context of these results, the company lowered its fixed asset investment target to $1.5 billion compared to a previous forecast of $1.6 billion.
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