The joint majority net profit of 14 Monterrey companies in the industrial sector listed on the Mexican Stock Exchange (BMV) amounted to 39,267 million pesos (mdp), representing an increase of 72.69 percent compared to the previous year.
Market analysts noted that in the quarter in question, some companies experienced an increase in their profits due to foreign exchange gains from the depreciation of the peso against the dollar, as well as from the sale of assets, as was the case with Cemex.
During this period, nine of the 14 companies recorded better performance in profit. Cemex stood out with an increase of 251 percent in its net profit, reaching 15,106 mdp. Jaime Mugurio, CEO of Cemex, attributed this achievement to the divestment of operations in the Dominican Republic, which boosted the company's record net profit.
On its part, Femsa reported the second highest profit with 5,805 mdp, showing an increase of 98 percent compared to the previous year. Marco Antonio Montaño from Vector Casa de Bolsa explained that this increase was due to favorable exchange rate effects from the appreciation of the dollar.
Coca Cola Femsa (Kof) obtained a net profit of 5,139 mdp, registering an increase of 2.66 percent. Ian Craig, CEO of Kof, attributed this growth to the increase in operating profit and a decrease in comprehensive financial results.
Arca Continental (AC) had an annual increase of 10.18 percent in its majority net profit, reaching 4,144 mdp, which represented an increase of 383 mdp compared to the previous year.
Alfa recorded the highest percentage increase in net profit, with 257 percent, rising from 1,017 mdp to 3,631 mdp in the first three months of this year. The company attributed this growth to higher operating profit, lower financing costs, and reduced taxes, among other factors.
