July 25, 2018 / 1:25 AM / 22 days ago

Miner Grupo Mexico net profit falls on higher tax

MEXICO CITY, July 24 (Reuters) - Mexican miner and transport company Grupo Mexico said that net profit fell by 28 percent in the second-quarter, compared to the year earlier period, hit by a higher tax burden.

The company reported a net profit of $402.8 million in the April-June period, compared to $557 million in the year-earlier quarter.

Revenue rose 18 percent to $2.67 billion, helped by higher metal prices, but the company's tax burden more than quadrupled to $394.7 million, eating into profits.

Reporting by Mexico City Newsroom; Editing by Sandra Maler

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below