Colombia’s largest holding company, Grupo de Inversiones Suramericana SA, booked a net profit of 298 billion Colombian pesos ($151 million) in the first nine months of the year, 176% higher than the COP108 billion in the same period last year, it said in a filing to the securities regulator Thursday.
The Medellin-based company said the transfer of profits from the companies it controls jumped seven-fold to COP225 billion from COP30 billion during the same period a year ago and the dividends from the companies it doesn’t control rose 12% to COP101 billion.
Suramericana is the largest shareholder of the country’s largest bank, Bancolombia SA, and owns stakes in Grupo Nacional de Chocolates and in Inversiones Argos SA, a holding company with assets in cement and power generation.