Mexichem Reports Q4 Profit Increase

Mexichem has reported a profit of MXN724m ($59.5m) during the fourth quarter of 2010, up from the MXN622m ($54.4m) reported during the corresponding quarter of 2009.

The chemical company reported earnings before interest, taxes, depreciation and amortisation of MXN1.773bn ($145.8m) during the quarter.

Mexichem's sales during the fourth quarter sales rose 18% year-on-year to MXN9.5bn ($781m).

For the full year, the company reported a profit of MXN3.69bn ($303.6m), up from the MXN2.76bn ($227m) reported in 2009 on sales of MXN36.5bn ($3bn).