Business: Grupo México's 2009 consolidated income down 17.6% to US$887mn

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News - Monday, February 8, 2010

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* Grupo México's 2009 consolidated income down 17.6% to US$887mn - Mexico, Peru

Grupo México (BMV: GMEXICOB) posted 2009 consolidated net income of US$887mn, a drop of 17.6% from US$1.08bn in 2008, according to the group's quarterly results released Friday.

Sales last year declined 19.9% to US$4.83bn from US$6.03bn the previous year, partly due to lower average metals prices.

Ebitda was US$2.13bn with a margin of 44.0% in 2009, compared to US$2.90bn and a margin of 48.1%, according to the results.

Cost of sales for 2009 was US$2.55bn, 14% lower than 2008, thanks to great ... more
http://www.bnamericas.com/news/mining/Grupo_Mexico*s_2009_consolidated_income_down_17,6*_to_US*887mn/173302379

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* Santiago CordovezExecutive director - Ecuadorian mining chamber<p><em>In January, Ecuadorian mining regulator ACRM and national mining company Enami EP launched operations under the new mining structure being put into practice in the country that aims to provide ... more

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