Cemex reports sales growth
By Sarah Ann McCay12 February 2012
Cement producer Cemex saw consolidated net sales increase by +6% during the fourth quarter of 2011 to approximately US$ 3.7 billion. Sales for the full year grew +8% to US$ 15.1 billion, compared 2010 figures.
Cemex attributed its growth to increased sales in Northern Europe; South, Central America, the Caribbean and the US.
The building materials company saw operating income jump by +79% for the last three months of 2011, to US$ 224 million, compared to the fourth quarter of 2010, and increase +12%, to US$ 960 million, for the full-year 2011 against 2010 figures.
Cemex saw sales it its domestic market of Mexico drop -9% year-on-year to US$ 818 million. Net sales in the Mediterranean region also dropped, down -14% to US$ 94 million for the quarter.
However, the company's operations in the US saw net sales grow by +19% to US$ 682 million for the three-month period. Similarly, in Northern Europe, net sales increased +16% to US$ 1.1 billion, compared with US$ 950 million in the fourth quarter of 2010.
Cemex's operations in South/Central America and the Caribbean reported the greatest gains with a +22% growth year-on-year, to reach US$ 447 million.
Sales in Asia remained flat, reaching US$ 124 million, comparable to results for the fourth quarter of 2010.