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

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)

((; +5255 5282 7140;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.