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Mexico's Cemex reports 11% jump in net income amid lower financial costs

Credit: REUTERS/DANIEL BECERRIL

Mexican cement maker Cemex SAB de CV CMXCPO.MX on Thursday reported an 11% jump in controlling interest net income for the third quarter amid lower financial costs, though net sales declined 1%.

MEXICO CITY, Oct 24 (Reuters) - Mexican cement maker Cemex SAB de CV CMXCPO.MX on Thursday reported an 11% jump in controlling interest net income for the third quarter amid lower financial costs, though net sales declined 1%.

Controlling interest net income rose to $187 million during the quarter, from $169 million a year earlier.

The company saw net sales of $3.5 billion, down 1%, amid a drop in volumes in key markets such as Mexico, Asia, the Middle East and Africa.

Cemex said it was optimistic conditions would improve in Mexico, its home market.

"In Mexico, we believe demand for our products is bottoming out and we are cautiously optimistic on renewed activity going forward, given the expected announcement of a new infrastructure program," Cemex Chief Executive Fernando Gonzalez said in a statement.

(Reporting by Julia Love and Noe Torres; Editing by Bernadette Baum)

((Julia.Love@thomsonreuters.com, @byJuliaLove; 52 (55) 5282-7131;))

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