July 16, 2012 / 6:08 PM / 5 years ago

UPDATE 1-Mexico's Alfa posts lower second-quarter profit

* Q2 profit 1.512 bln pesos vs 1.947 bln pesos yr ago

* Revenue up 16 pct at 51.6 bln pesos

MEXICO CITY, July 16 (Reuters) - Mexican conglomerate Alfa said on Monday its second-quarter profit fell 22 percent as the weaker peso caused the cost of financing its U.S. dollar debt to jump.

The company, which owns auto parts and petrochemical businesses, reported a profit of 1.512 billion pesos ($113 million) down from 1.947 billion pesos in the same period a year earlier.

“The reduction in net profit is due primarily to the 15 percent depreciation in the peso over the comparative quarters, which generated exchange-rate losses that negated Alfa’s good results,” the company said in a statement.

Revenue climbed 16 percent to 51.6 billion pesos in the quarter, boosted by a pickup in sales at its auto-parts unit.

The Monterrey-based company listed its petrochemical unit Alpek in April this year.

Alfa shares were up 0.17 percent at 216.30 pesos in trading on Mexico’s Stock Exchange.

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