Mexico’s Alfa Q2 net profit more than doubles on Alpek success

MEXICO CITY (Reuters) – Mexican conglomerate Alfa on Wednesday reported that its second quarter net profit more than doubled to 4.86 billion pesos ($241.51 million) compared to year-ago quarter, citing the success of its petrochemicals subsidiary Alpek.Revenue at the Monterrey-based company, whose business lines include food, petrochemicals and telecommunications, rose 29.5% to 96.87 billion pesos during the second quarter.

Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter were the highest ever for a second quarter, Alfa said, jumping 42% from the previous year to $14.15 billion.($1 = 20.1353 pesos at end-June)

(Reporting by Kylie Madry and Noe Torres; Writing by Valentine Hilaire; Editing by Christian Plumb)

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