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Loss at Mexico's ICA quintuples as debt woes mount

Thursday, March 31, 2016

Mexico's ICA posted a fourth-quarter net loss more than five times higher than in the same period a year earlier, as the embattled construction company won fewer contracts and its debt soared.

ICA, which has not posted a quarterly profit since 2013, on Wednesday said it lost 10.591 billion pesos ($615 million) in the October to December period, compared to 2.082 billion pesos a year earlier.

Source: Reuters