FINANCE

Mexico’s Alpha outlook has been raised by Reuters over the improvement of the Alpac unit


Reuters

MEXICO CITY (Reuters) – Mexican conglomerate Alpha raised guidelines for the 2021 EBITDA (interest, tax, devaluation and earnings before payments) on Wednesday, following the improved performance of its petrochemical subsidiary Alpec.

The Monterey-based firm, whose business line includes food and telecommunications, raised its 2021 EBITDA guidelines by 10% to $ 1.937 billion.

“Alpac has again delivered better-than-expected EBITDA, boosted by sustainable margin strength,” Alpha said in a earnings statement.

Alpha’s third-quarter net profit was 2.491 billion pesos ($ 121 million), down from 3.766 billion pesos a year earlier.

The firm blamed the drop for an unfavorable comparison with the same period in 2020, when it benefited from a অপ 95 million profit from a closed operation related to the spin-off of its auto parts producer Nemac.

Alpha’s quarterly revenue rose 17.7% to 79.552 billion pesos.

Alpha shares fell 1.14% to close at 14.74 pesos before the earnings report was released.

(শেষে 1 = 20.642 peso at end of September)

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