Results of Large Companies in Guatemala

The crisis affects Guatemalan companies traded in the Stock Exchange differently and they exhibit mixed results in revenue and profits.

Wednesday, May 6, 2009

An article by Vernick Gudiel in Elperiodico.com.gt contained figures of the results - income, profits - of the large companies participating in the Guatemalan Stock Exchange: Credomatic, Alimentos S.A., Salvavidas, S. A., Alimentos Maravilla, S. A., and Empresa Eléctrica of Guatemala, S. A..

"In general, issuers in the National Stock Exchange reported lower results in the first quarter of 2009 compared to same period in 2008."

More on this topic

Revenues Down in Costa Rican Private Banks

February 2011

Nine of the eleven private banks operating in the market generated fewer profits in 2010 than in 2009.

The data published by the Superintendence of Financial Institutions (SUGEF), dos not provide information on Bansol, which began operations in November 2010.

"Private banks were mainly affected by the 9% drop of the dollar in 2010, as most of their assets are in that currency," reported the article in Nacion.com, "Since financial statements are done in Colones, transferring their assets from Dollars into Colones results in a lower valuation due to lost value in the price of the currency."

Costa Rican Banks' Assets and Profits Fall

September 2010

At the close of the first half of the year, financial groups report asset levels down 4% and profits down 8%.

One of the main reasons for the worsening picture relative to the close of 2009 is the appreciation of the colón, the Costa Rican currency.

"The change in the exchange rate has had a negative impact on the dollar value of entities' assets," comments Gabriela Mayorga for Elfinancierocr.com.

Copa Holding Profits Down 49%

May 2010

Copa’s net income for the first quarter of 2010 was $36.7 million, 49% less than the same period of 2010.

Copa Holdings S.A., the parent of Panama-based Copa Airlines and Colombia-based Aero República, said its first-quarter net income fell 49 percent to $36.7 million, hit by currency charges and higher fuel costs. The results compared to a net profit of $71.6 million, in the same period a year earlier.

Panama's Bank Profits to Decrease in 2009

March 2009

Equilibrium, a risk rating firm, predicts a slowdown in the Panamanian banking sector in 2009.

Equilibrium, a risk rating firm and a subsidiary of Moody's Investors Service, Inc., believes that credit stagnation, lower margins and higher provisions will push the results of the Panamanian banks downward.

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