Mexico's Vitro sees 5 pct rise in 2004 sales

Date: 26 February 2004
Source: Forbes.com

Date: 26 February 2004

Mexican glass maker Vitro said on Wednesday it expects sales to grow 5 percent in 2004 and EBITDA to rise 7 percent, amid greater demand for glass from the construction industry.

Finance director Alvaro Rodriguez said expected continued growth in the construction industry in Mexico and the United States will boost sales, regardless of whether the U.S. economy as a whole rebounds as expected."The construction sector is going to grow a lot, but we are not basing our plans on expectations for a great rebound in the U.S. economy," he told Reuters in a telephone interview.

He said cost reductions, especially in energy and personnel, also should help boost earnings before interest, taxes, depreciation and amortization (EBITDA).

On Tuesday Vitro reported sales of 6.263 billion pesos ($558 million) for the fourth quarter of last year, a drop of 0.9 percent from the 2002 period amid slower sales in some units.
600450 Mexico's Vitro sees 5 pct rise in 2004 sales glassonweb.com

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