Conconcreto op. profit grows 281%
Bnamericas Published: Friday, April 01, 2005
Conconcreto reported operating profits of 9.3bn pesos (US$3.88mn) in 2004, up 281% from the previous year, the Colombian construction company reported. Conconcreto's gross margin surpassed 11%, up from 6.6% in 2003. Further, the company posted revenue of 245bn pesos in 2004 without providing 2003 figures. The company attributed financial growth to various strategic factors, including international expansion and establishing value-added business alliances. In addition, an agreement entered into with creditors enabled the company to reduce liabilities by 32bn pesos in the year. Conconcreto participates in large-scale construction projects such as the Transmilenio urban transport initiative in Bogotá, the Barrancabermeja-Yondó and Sinú bridges, and the La Línea traffic tunnel.
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