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 percent to $210 million and glass container sales down 36.4 percent to $249 million.

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