Net Income grew 49.7% compared to same quarter of last year.
Year to Date Results
Inorganic growth in individual solutions and disruptive technology.
Solid margin expansion.
Grupo Rotoplas SAB de CV (BMV: AGUA) ("Rotoplas", "the Company" or "the Group"), the leading provider of individual and integrated water solutions in the Americas, reported unaudited financial results for the second quarter 2016. The information within has been prepared based on International Financial Reporting Standards (IFRS).
"During the first half of the year, we capitalized the increasing demand of our solutions and the strength of our brand to improve Rotoplas' profitability, despite the economic challenges that affected negatively our sales," commented Carlos Rojas Mota Velasco, CEO of Grupo Rotoplas, "in the first half of the year we completed inorganic successful transactions, aligned to our corporate strategy. First of all, Talsar, as a leading brand in the water heaters market, enhances our presence on Individual Solutions in Latin America; meanwhile, AIC brings us a disruptive and unique technology capable of purifying at 100% contaminated water. Both companies strengthen our long term value proposal."
This press release may include certain forward-looking statements relating to Grupo Rotoplas S.A.B. de C.V., it relies on considerations of the Grupo Rotoplas S.A.B. de C.V. management which are based on current and known information; however, the forward-looking statements could vary due to facts, circumstances and events beyond the control of Grupo Rotoplas, S.A.B. de C.V.
About the Company
Grupo Rotoplas S.A.B. de C.V. is America's leading provider of individual and integrated water solutions for storing, carrying, and treating water. With more than 35 years' experience in the industry and 23 plants throughout the Americas, Rotoplas has a presence in 13 countries and a portfolio that includes 17 product lines. Grupo Rotoplas has been listed on the Mexican Stock Exchange (BMV) under the ticker "AGUA" since December 2014.