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UPDATE 2-Mexico's Alfa reports $61 million loss in fourth quarter

·1 min read

(Adds details from report)

MONTERREY, Mexico, Feb 11 (Reuters) - Mexican conglomerateAlfa on Thursday reported a net loss of 1.2 billion pesos ($61million) in the fourth quarter, compared to a profit of 1.5billion pesos during the same quarter last year.

"A strong balance sheet and ample liquidity provided thenecessary support during uncertain times," said Alfa's ChiefExecutive Officer Alvaro Fernandez.

"We remain committed to reducing debt through the potentialsale of Axtel or other strategic alternatives," he added,referring to the telecommunications company.

Alfa reported revenue of 66.3 billion pesos inthe quarter, a 3.4% increase over the year-ago period.

Sales were down 3% at the food services unit, Sigma, whichmade up over half of the company's revenue.

Declines were driven by coronavirus pandemic-relatedclosures across Mexico, Europe and Latin America, which led toshutdowns of hotels and restaurants, as well as lower consumermobility, the company said.

Meanwhile, the company's Alpek unit, which produces plasticsand chemicals, reported that accumulated volume was up 10%compared to the same period last year, but this was offset by adecline in average consolidated prices, resulting from lower oiland feedstock prices.

The revenue from the telecoms unit, Axtel, was down 15%,largely due to the depreciation of the Mexican peso.($1= 19.9500 pesos at end-December)(Reporting by Noe Torres in Mexico City and Laura Gottesdienerin Monterrey; editing by Diane Craft and Grant McCool)