Colombia’s Colcap index held up reasonably well considering the beating taken in major markets Tuesday. The index was down 0.64% as the major companies finished in negative territory, while the mid-size Coliversiones and Davivienda Bank led the market. Volume was COP$140 billion, near recent daily averages.
Isagen announced 2nd quarter earnings and reported 1st half revenue growth of 14% over the same period last year, while net income increased 23%. In addition to earnings, Isagen also announced a delay in their Amoyá hydro-electric project. The 80MW generation facility was slated to begin operations on the 1st of December, but is now delayed until July 2012.
ISA announced earning after the close yesterday that showed revenues up 27.5% in the 2nd quarter year over year, though largely due to the inclusion of earnings from Chilean affiliates (revenues would have increased 8.1% without the consolidated statements). EBITDA saw a 21.4% increase to COP$728 billion. Brazil continues to make up the majority of sales at 46.5%, Colombia accounts for roughly one-third and the rest is split between other countries.
The peso closed little changed at 1,771.15