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Mexichem's net income up 16%, confirms outlook

11:20 AM MDT | April 30, 2014 | Francinia Protti-Alvarez

Mexichem (Tlalnepantla, Mexico) reports net income of $49 million in the first quarter, up 16% year-on-year (YOY) primarily because of last year’s $7.8-million loss from discontinued operations. Net income from continuing operations totaled $51.4 million, stable compared with the first quarter of last year, as a result of lower interest expenses and lower cash taxes, Mexichem says. Ebitda amounted to $198 million for the reported period, down 10% from the $219 million a year prior mainly because of factors related to Mexichem's fluorine chain, the...

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