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Colombia’s Grupo Argos 2021 profit surges eightfold -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Grupo Argos logo is visible in Medellin Colombia, June 25, 2019. Picture taken June 25, 2019. REUTERS/Luis Jaime Acosta

BOGOTA (Reuters). – The Colombian industrial conglomerate Grupo Argos reported Wednesday that its net profit grew eightfold in 2018 to 1.2 trillion pesos ($305million) thanks to record sales figures for the cement and energy business.

Grupo Argos posted a net profit in 2020 of 154 billion pesos.

Cementos Argos and Celsia, an energy producer, and Odinsa, a road and airport concessions company, made up the conglomerate, which brought in 16.3 trillion pesos of revenue. This is 16.6% more than 2020.

(1 dollar = 3,932.40 Colombian pesos)

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