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Mexico's Orbia posts 88% drop in 2nd quarter net profit

Mexican plastic pipe and chemicals company Orbia on Tuesday reported a net profit of $10.2 million for the second quarter, an 88% drop from the $84.0 million it posted during the same period a year earlier.

MEXICO CITY, July 28 (Reuters) - Mexican plastic pipe and chemicals company Orbia on Tuesday reported a net profit of $10.2 million for the second quarter, an 88% drop from the $84.0 million it posted during the same period a year earlier.

The Mexico City-based conglomerate ORBIA.MX, formerly known as Mexichem, said its revenues dropped to $1.412 billion from $1.839 billion in the same quarter a year earlier.

(Reporting by Abraham Gonzalez; Writing by Anthony Esposito)

((anthony.esposito@tr.com; +5255 5282 7140;))

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