Colombia's Grupo Argos more than triples profit in 2024
Adds EBITDA and background in paragraphs 3-5
Jan 30 (Reuters) - Colombia's Grupo Argos ARG.CN reported a 221% increase in net profit in 2024 to 2.53 trillion pesos ($609 million), the conglomerate announced in a statement on Thursday.
Argos, with units in the energy, cement and airport operations, saw revenue last year grow 148% to total 2.53 trillion pesos.
The company's earnings before interest, taxes, depreciation, and amortization soared 241% from a year earlier to reach 3.22 trillion pesos.
Last year, Grupo Argos divested its stake in Grupo Nutresa NCH.CN, signed a spin-off agreement with Grupo SURA SIS.CN to simplify its organizational structure, and finalized the sale of a 31% stake in its subsidiary Cementos Argos CCB.CN to Summit Materials SUM.N.
The conglomerate has called for an extraordinary shareholders' meeting on March 27 to seek approval for the spin-off with Grupo SURA.
($1 = 4,153.59 Colombian pesos)
Related Articles
Warsh’s Fed Era Signals a Death Knell for QE, Jolting the $30 Trillion Treasury Market
With Warsh’s nomination, his past proposals for governing the Federal Reserve are being brought to the forefront. A central issue is the formulation of a new "1951 Accord" to restructure the relationship between the Fed and the Treasury. Analysts suggest such a move could impact the $30 trillion Tre
Will TRON Reach $10? TRX Price Prediction 2026 and Canary Staked ETF Update
Explore TRON's 2026 outlook: Will TRX reach $10? Get the latest on the Canary Staked ETF SEC status, Justin Sun's strategy, and TRX price predictions through 2032.
Amazon Stock Predictions for 2026 to 2030: Will They Exceed Expectations and Achieve Major Long-Term Goals?
TradingKey - As we head into 2026, many investors are questioning where Amazon (AMZN) fits into the technology world.
A Crash After a Surge: Why Silver Lost 40% in a Week?
TradingKey - Spot silver (XAGUSD) prices continue to decline. Silver plunged 20% on Thursday, breaking below $71 per ounce, with the sell-off intensifying on Friday as prices fell further below $64. Compared to the all-time high set on January 29, silver prices have retraced more than 40%, wiping out nearly all gains accumulated over the previous month.
