ARGOS CONSOLIDATED INCOMES REPORT FOR THE FIRST SEMESTER

ARGOS CONSOLIDATED INCOMES REPORT FOR THE FIRST SEMESTER

The Antioquian cement company which is part of the GEA (Spanish acronym for Antioquian Business Group) presented its earnings report for the first semester of 2012.

The company has operations in Colombia and United States of America as important markets with a large market share and importance in the volume of business registered in these markets.

In the United States the infrastructure and construction business is holding back and decreasing, but in Colombia the construction business and infrastructure business as well are expanding fast and keeps growing due to FDI arriving to the country for hotels and real state business operations and also due to the importance of the infrastructure projects that the national government is looking to forward for the year.

This environmental situation generated an increase of 31% in the net incomes of the company on its consolidated earning report for the first semester of the year, rising up to 2.1 billion COP$.

As we could see in the second quarter of the year, Argos issued 1 billion COP$ in bonds with very competitive interest rates in order to restructure its financial liabilities and for work capital.