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Mexico's Cemex posts $86 million 3rd quarter loss

Mexico's Cemex posts $86 million 3rd quarter loss

Mexican buildings supplies giant Cemex SAB says it lost $86 million in the third quarter, a sharp decrease from a $78 million gain in the same period last year.
Cemex says higher financial expenses and a lower operating income were to blame for the loss.
The Monterrey-based company says in an earnings report that sales in the U.S. fell 9 percent to $683 million from the third quarter of 2009.
Sales also fell in Europe and Central and South America but the loss was offset somewhat by a 14 percent increase in sales in Mexico.
Cemex CPO shares were up 5.8 percent to 10.72 pesos in Tuesday morning trading.


Updated : 2021-10-21 19:29 GMT+08:00