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Grupo TMM Q2 Revenues Increases

LBR Staff Writer Published 29 July 2010

Grupo TMM has reported total revenues of $75.4m for the second quarter of 2010, an increase of 1.2% compared to $74.5m for the same quarter in 2009.

The company's operating income were $7.8m for the quarter which is an increase of 34% compared to $5.8m for the same period last year.

In the second quarter of 2010, EBITDA increased 30.8% to $22.1m compared to $16.9m for the same quarter in 2009.

For the quarter ended June 30, 2010, the company posted net income of $14.8m compared to a net loss of $66.4m for the same period last year.

Jose Serrano, chairman and CEO of Grupo TMM, said: “Year over year, TMM's second-quarter 2010 consolidated revenues, operating profit and EBITDA improved, demonstrating the power of the Company's market position, continued operational efficiency and successful business strategy.

More importantly, consolidated EBITDA in the second quarter of this year exceeded our financial expenses, resulting in the third consecutive quarter of positive free cash flow.

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