Argos 2004 profit up 20 per cent, Colombia

Colombia’s biggest cement group, Cemento Argos, reported a 20 per cent rise in net profits in 2004.

The company’s improved result came as Colombia enjoyed a construction boom, which economists attributed partly to confidence in President Alvaro Uribe’s tough security policies aimed at Marxist rebels. 

Argos’ net profit rose to COP187.1bn (US$80.7m). 

Operating income increased to COP203.4bn  (US$87.7m), up 10 per cent from 2003.   Assets totaled COP 3.8 trillion (US$1.6bn), up 53 per cent from 2003. Net worth rose 54 per cent to COP 3.7 trillion ($1.6bn).