May 14, 2019 / 10:51 PM / in 2 months

Colombia's Grupo Argos sees 1st qtr net profit up 32%

BOGOTA, May 14 (Reuters) - Colombian investment holding company Grupo Argos said on Tuesday its net profit increased 32% in the first quarter to 144 billion pesos ($43.6 million) compared with the year-ago period.

Revenue rose 12% to 3.7 trillion pesos, while earnings before interest, taxes, depreciation and amortization rose by 6% to 1 trillion pesos, the company said in a statement.

Argos, which is 35.4% controlled by holding GrupoSURA , said in March it would invest some 2.6 trillion pesos this year in its power, concessions and cement subsidiaries.

1 dollar = 3,299.01 pesos Reporting by Nelson Bocanegra Writing by Helen Murphy; Editing by Richard Chang

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