Vitro“s second-quarter sales down

Mexican conglomerate Vitro SA said 10 July it registered sales of Pesos 7.18 billion (US$ 1=MXN 9.15) in the second quarter of this year, down slightly from MXN 7.30 billion in the same period of 2000…

Mexican conglomerate Vitro SA said 10 July it registered sales of Pesos 7.18 billion (US$ 1=MXN 9.15) in the second quarter of this year, down slightly from MXN 7.30 billion in the same period of 2000. In a press release outlining preliminary results for the April-June period, Vitro said earnings before interest and taxes fell 14.5% on the year to MXN 810 million. Operating cash flow totaled MXN 1.36 billion, down 6.9% from the year ago quarter. Sales in dollar terms rose 7.5% to US$ 784 million, boosted mostly by Vitro“s flat glass and home appliance divisions, the company said. Vitro said it continued to be affected by the strong peso and high energy costs, as well as the economic slowdown in Mexico and the US which increased fixed costs as a percentage of sales in some businesses.