Mexico's Vitro 2Q net profit $62M vs $5M year ago

Mexican glass manufacturer Vitro SAB (VTO) said Tuesday [July 28]that its second-quarter net profit rose to $62 million from $5 million a year ago on lower financial costs, while sales and operating profits were lower.

Vitro said in a press release that sales fell 36% to $464 million, with flat glass sales down 35.1 percentto $210 million and glass container sales down 36.4 percentto $249 million.

Operating profit fell 42 percentto $25 million, while earnings before interest, taxes, depreciation and amortization, or EBITDA, fell 33 percentto $57 million, according to a July 28 report in The Wall Street Journal.

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