BOGOTA, May 10 (Reuters) - Grupo Argos, Colombia's largest industrial conglomerate, more than doubled its first-quarter net profit thanks to growth in all its segments and bigger profits from its U.S. cement business, the company said on Wednesday
Net profit leapt more than 150% compared to a year earlier to 406 billion pesos ($89.42 million), from revenues up 25% to 5.75 trillion pesos ($1.27 billion).
The conglomerate - which includes power utility Celsia, Cementos Argos and road and airport concession company Odinsa - saw core earnings rise 28% to 1.56 trillion pesos.
Grupo Argos said its cement subsidiary saw revenues climb 31% compared to a year earlier to 3.4 trillion pesos, as it shifted bigger volumes to the United States, where core earnings surged some 77%.
Its cement exports from Colombia to the United States rose 81% during the quarter, it said.
Meanwhile, Celsia posted revenues up 16% from a year earlier.
Odinsa saw its airport traffic grow 18% compared to the first quarter in 2022, it said, hitting 10.4 million passengers.
Argos also said on Wednesday it could begin carrying out a share repurchase plan this month for up to 500 billion pesos over three years, as part of its plan to "transfer value to shareholders."
The plan follows a 400-billion-peso buyback Grupo Argos held in March.
($1= 4,540.34 Colombian pesos) (Reporting by Nelson Bocanegra; Writing by Valentine Hilaire and Kylie Madry; Editing by Sarah Morland and Sandra Maler)