Cemex posts 3Q loss

Mexican buildings supplies giant Cemex SAB says it lost US$86 million in the third quarter, a sharp decrease from a US$78-million gain in the same period last year.

Cemex, a part owner of Trinidad Cement Limited, parent company to Caribbean Cement, says higher financial expenses and a lower operating income were to blame for the loss.

The Monterrey-based company says in an earnings report that sales in the US fell nine per cent to US$683 million from the third quarter of 2009.

Sales also fell in Europe and Central and South America, but the loss was offset somewhat by a 14 per cent increase in sales in Mexico.

Cemex CPO shares were up 5.8 per cent to 10.72 pesos in Tuesday morning trading.

- AP