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Grupo México's Q1'16 net profit up 20.9% YOY on higher output, investment gains

Grupo México SABde CV's first-quarter net profit rose to US$406.9 million, up 20.9%year over year from US$336.5 million, due to higher metals production and a significantimprovement in investment gains, Reuters reported April 27.

Copper production was up 20%, to a record 1 million tonnes, afterstarting new projects. Meanwhile, gains in investments increased to US$288.6 million,from US$35.8 million.

Revenues slipped 7.8% to US$1.9 billion amid lower prices forsome of the company's key commodities, including copper and silver.