Mexico's Alfa net down 66 pct after steel unit sale

Newswire

MEXICO CITY, Jan 24 (Reuters) - Mexican conglomerate Alfa, maker of an array of products from carpets to cheese, said Tuesday that fourth-quarter net income dropped 66 percent after selling its profit-making steel unit. Alfa said net fell to 673 million pesos ($63 million) from 1.97 billion pesos a year earlier. Alfa, which has divisions making auto parts, processed food and petrochemicals, sold its Hylsamex steel arm in August. ($1 = 10.6271 pesos at end December)

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