Jan 30 (Reuters) - Colombia's Grupo Argos (ARG.CN) , opens new tab reported a 221% increase in net profit in 2024 to 2.53 trillion pesos ($609 million), the conglomerate announced in a statement on Thursday.

Argos, with units in the energy, cement and airport operations, saw revenue last year grow 148% to total 2.53 trillion pesos.

The company's earnings before interest, taxes, depreciation, and amortization soared 241% from a year earlier to reach 3.22 trillion pesos.

Last year, Grupo Argos divested its stake in Grupo Nutresa (NCH.CN) , opens new tab, signed a spin-off agreement with Grupo SURA (SIS.CN) , opens new tab to simplify its organizational structure, and finalized the sale of a 31% stake in its subsidiary Cementos Argos (CCB.CN) , opens new tab to Summit Materials (SUM.N) , opens new tab.

The conglomerate has called for an extraordinary shareholders' meeting on March 27 to seek approval for the spin-off with Grupo SURA.

($1 = 4,153.59 Colombian pesos)

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https://www.reuters.com/business/colombias-grupo-argos-more-than-triples-profit-2024-2025-01-30/