September 25, 2023
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IMSA 2Q 2023 Net Profits Soar Year-on-Year

Medellin-based food additives, chemical-composites and consumer/industrial products maker Grupo IMSA announced August 14 that its second quarter (2Q) 2023 profits hit COP$47 billion (US$11.4 million), up from COP$2.3 billion (US$560,000) in 2Q 2022. Revenues also rose, to COP$254 billion (US$62 million), versus COP$180 billion (US$44 million) in 2Q 2022, according to IMSA.
Business Companies

Enka 2Q 2023 Net Income Jumps 61% Year-on-Year

Medellin-based textiles and waste-plastics recycling specialist Enka announced August 11 that its second quarter (2Q) 2023 net income rose 61% year-on-year, to COP$10.5 billion (US$2.6 million). However, earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 21%, to COP$12.6 billion (US$3.1 million), according to the company. While the year-on-year