October 16, 2017 / 11:52 PM / a year ago

UPDATE 1-Mexico's Alfa reports loss, cuts guidance

(Updates with forecast cut)

MEXICO CITY, Oct 16 (Reuters) - Mexican conglomerate Alfa on Monday reported a near 6 billion peso third-quarter loss and cut its earnings guidance for 2017, amid financial troubles at a client of its petrochemicals unit Alpek.

The Monterrey-based company reported a 5.94 billion peso ($327 million) net loss compared with a net profit of 234 million pesos in the July-September period of 2016.

Alpek said in September that client M&G chemicals was overdue on its bills for the supply of purified terephthalic acid (PTA).

Alfa said on a conference call on Monday that it cut its guidance for full-year 2017 earnings before interest, tax, depreciation and amortization to $2 billion from $2.15 billion.

In terms of deals, the company said it was exploring options to sell U.S. assets of its energy unit Newpek, but that it was not in talks with any bank to sell its telecoms company Axtel.

In September, Alfa canceled the initial public offering of its processed food unit Sigma. It said on the Monday call that it would wait for better market conditions before reconsidering the IPO.

$1 = 18.1785 Mexican pesos Reporting by Noe Torres; Editing by Leslie Adler

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