By Nelson Bocanegra
BOGOTA (Reuters) -Colombian industrial conglomerate Grupo Argos’ full-year 2021 net profit soared eightfold to 1.2 trillion pesos ($305 million), the company reported Wednesday, citing record sales figures in its cement and energy businesses.
In 2020 Grupo Argos reported a net profit of 154 billion pesos.
The conglomerate – made up of Cementos Argos, energy producer Celsia and road and airport concession company Odinsa – reported annual revenue rose 16.6% to 16.3 trillion pesos.
Annual EBITDA increased 29.2% to 4.3 trillion pesos.
The company said it is considering the distribution of a dividend of 500 pesos per share to its shareholders, up 30% from the one announced the year before, amid the strong 2021 results.
Grupo Argos announced in December that it would list Cementos Argos’ U.S. assets on the New York Stock Exchange in the second half.
The conglomerate will also consolidate its investments in road and airport concessions and energy and real estate rentals into a single vehicle, with an eye to another potential NYSE listing.
(1 dollar = 3,932.40 Colombian pesos)
(Reporting by Nelson Bocanegra, Writing by Julia Symmes Cobb and Kylie Madry; Editing by Christian Plumb)
