July 27 (Reuters) - Mexican cement producer Cemex SAB de
CV on Monday reported a loss for the second quarter,
hurt by sales declines across most of its markets due to
The United States, Cemex's biggest market, was the only
region to report positive sales growth of 1%.
Its other markets including Mexico, Europe, Middle East,
Africa and Asia, and South, Central America and the Caribbean
posted declines of between 10% and 30%.
Net loss was $44 million in the second quarter, compared
with a profit of $155 million a year earlier.
"In the quarter, we saw a rapid V-shaped volume recovery in
our core products from trough levels in April, reaching slightly
below pre-COVID-19 volumes in June," Chief Executive Officer
Fernando González said.
"We expect that COVID-19 will continue to challenge our
operations in new ways over the next few quarters."
Monterrey-based Cemex, which operates in more than 50
countries, said earlier this year it was delaying capital
expenditure and cutting a percentage of employees' salaries or
allowances for a period of three months to cut costs amid the
(Reporting by Ankit Ajmera in Bengaluru; Editing by Aditya