Cementos Moctezuma reports solid quarter, Mexico

Corporation Montezuma reported that during the fourth quarter of 2011 EBITDA grew to 25% over the same period a year ago.

A report in El Economista show that for full year 2011, the company reported a 15% growth in sales, supported by a strong advance of 13.7% in cement volume, partially offset by a fall of 2.6% in concrete volumes.

EBITDA for 2011 was 10% higher than a year ago, but the EBITDA margin shrank from 36.2% to 34.5%, mainly due to the installation costs associated with the new cement plant.