Grupo TMM Q1 Revenues Up 1.5% To $81.15m
Grupo TMM has reported total revenues of $81.15m for the first quarter of 2010, an increase of 1.5% compared to $79.96m for the same quarter in 2009.
Grupo TMM's operating profit for the first quarter were $10.5m, an increase of 101.9% compared to $5.17m for the same period last year.
The company posted EBITDA of $23m for the first quarter of 2010 which is an increase of 49.4% compared to $15.4m for the same quarter in 2009.
For the quarter ended March 31, 2010, the company posted a net loss of $41,12m, or $0.41 per share compared to net income of $4.7m, or $0.09 per share for the same period last year.
José Serrano, chairman and CEO of Grupo TMM, said: Year over year, TMM's first-quarter 2010 consolidated revenues remained steady, consolidated operating profit doubled and consolidated EBITDA improved significantly.
Additionally, as in the fourth quarter of 2009, our consolidated EBITDA in the first quarter of this year exceeded our financial expenses, resulting in positive free cash flow and confirming a trend.
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