November 3, 2024
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Grupo IMSA 2Q 2024 Net Profit Plunges 81%, But 1H Profits Up 50%

Medellin-based multinational diversified manufacturer-marketer Grupo IMSA announced August 16 an 81% year-on-year decline in second quarter (2Q) 2024 net income, to COP$8.7 billion (US$2.16 million), from COP$47.3 billion (US$11.7 million) in 2Q 2023. However, gross revenues for 2Q 2024 rose 8% year-on-year, to COP$93 billion (US$23 million), from COP$87 billion (US$21.6
Business Companies

UNE-EPM (Tigo) Posts Net Loss for 2Q 2024, Outlines Market-Exit Plan

Medellin-based UNE-EPM –half-owner of the “Tigo” cell-phone, internet and cable-TV venture (with Millicom owning the other half) in Colombia – announced August 14 a COP$33.9 billion (US$8.4 million) net loss for second quarter (2Q) 2024, an improvement over the COP$290.6 billion (US$72 million) net loss in 2Q 2023. Revenues also dipped slightly, to COP$1.34 trillion […]