Grupo Argos posts Q1 net profit down 69%

BOGOTA, May 15 (Reuters) - Colombia's Grupo Argos ARG.CN reported a 69% year-on-year drop in first-quarter net profit on Thursday, falling to 1.19 trillion pesos ($282.6 million).

However, adjusted net profit, excluding non-recurring items, tripled to 113 billion pesos compared to the same period last year, the company said.

Argos, with units in the energy, cement and airport operations, said its revenue for the first three months of the year grew 7% to total 2.9 trillion pesos.

($1 = 4,196.66 Colombian pesos )