Compañía de Empaques Sees 1H 2017 Profits Drop

Medellin-based Compañía de Empaques – makers of fibers for industrial, agricultural, construction and infrastructure sectors – announced this month that its first-half (1H) net profits fell to COP$1.96 billion (US$662,000), compared to COP$13.5 billion (US$4.5 million) in 1H 2016.

While sales rose year-on-year — to COP$193 billion (US$65 million) in 1H 2017 versus COP$179 billion (US$60 million) in 1H 2016 — cost of sales rose considerably, to COP$160 billion (US$54 million) in 1H 2017 versus COP$142 billion (US$48 million) in 1H 2016, according to the company.

Compañía de Empaques boasts 75 years of experience in manufacturing specialty fibers for packing and storage of materials as well as for reinforcing materials used in mining and construction.