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Mexico's Cemex posts 16th straight loss

Friday, October 25, 2013

Mexico's Cemex posted a net loss for the 16th straight quarter as a sales decline in Mexico blunted the company’s revived fortunes in the United States.

The third-quarter loss narrowed to $155 million from $203 million a year earlier, the Monterrey, Mexico-based company said in a statement.

But while rising competition, delays in government spending and bad weather in September hurt Cemex’s performance in Mexico, the company got a boost in U.S. and northern Europe, according to Carlos Hermosillo, an analyst at Grupo Financiero Banorte.

Source: Reuters