Miner Grupo Mexico net profit falls on higher tax
MEXICO CITY, July 24 (Reuters) - Mexican miner and transport company Grupo Mexico said that net profit fell by 28 percent in the second-quarter, compared to the year earlier period, hit by a higher tax burden.
The company reported a net profit of $402.8 million in the April-June period, compared to $557 million in the year-earlier quarter.
Revenue rose 18 percent to $2.67 billion, helped by higher metal prices, but the company's tax burden more than quadrupled to $394.7 million, eating into profits.
(Reporting by Mexico City Newsroom; Editing by Sandra Maler)
