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Mining Boosts Grupo México Profits Amid Covid-19 Pandemic

The earnings obtained from the mining exercise helped offset a lower in the advantages of its transportation and infrastructure divisions, given the decrease gross sales over the last quarter of the 12 months, in the course of the coronavirus pandemic.

Alternatively, the corporate’s complete income reached about 3,217 million {dollars} within the final quarter of final 12 months, in keeping with the doc, a rise of 22% in comparison with the identical interval of 2019.

Regardless of the consequences on productive actions as a result of pandemic, Grupo México’s gathered earnings rose 4% in the entire of final 12 months in comparison with 2019, whereas its earnings grew 2.1%.

From October to this point, Grupo México’s securities have gained 61.5% on the Mexican inventory market, to commerce at 90.86 pesos, near its historic most reached in January.

Native media reported Tuesday that the corporate owned by magnate Germán Larrea will construct a hydrocarbon storage terminal in central Aguascalientes state, together with Valero Power.

“The information (of the terminal) is constructive for Grupo México, as it’s aligned with the issuer’s technique, which contemplates an intensive interval of funding in numerous initiatives,” Monex analysts stated in a observe.

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Donna Miller

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