MEXICO CITY (Reuters) -Mining and transportation conglomerate Grupo Mexico reported third-quarter net profit that climbed more than 50%, boosted by higher sales volumes of molybdenum, silver and zinc.
Net profit for the group, a leading copper producer, came in at $1.29 billion from revenues that jumped 11% to $4.59 billion, according to a filing on Tuesday, the latter above a $4.41 billion estimate of analysts polled by LSEG.
Earnings before interest, taxes, depreciation, and amortization for the three months through end-September rose 15% to $2.51 billion.
Grupo Mexico, controlled by billionaire German Larrea, ranks among the world’s largest copper producers by volume.
Copper output in the quarter slipped 2.6% from a year earlier to 798,394 tons, as production in Mexico and Peru declined and the company prioritized output of silver, molybdenum and zinc.
(Reporting by Natalia Siniawski; Editing by Brendan O’Boyle)
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