Mexico’s Cemex Q3 profit slides on year-ago asset sale and as taxes bite

Mexican cement-maker Cemex on Thursday reported a 75% slump in third-quarter profit, on a nearly five-fold rise in taxes and as hefty asset sales last year hurt the year-on-year earnings' comparison. Cemex's net profit fell to $126 million, down from $494 million last year, the company said in a filing. Most of the decline in profit came from the sale of assets in Costa Rica, El Salvador and a partial stake sale in tech firm Neoris last year, it said.