UPDATE 1-Mexico's Cemex reports narrower 2nd-qtr loss
MEXICO CITY, July 25 (Reuters) - Mexico's Cemex, one of the world's biggest cement companies, said on Thursday its second-quarter loss narrowed but was worse than expectations as higher expenses and a loss in financial instruments offset a pickup in sales.
The company , struggling amid the global economic downturn and a heavy debt load from costly acquisitions, reported a loss of $152 million, compared with a loss of $187 million in the year-earlier period.
Analysts, on average, expected a loss of $70 million, according to a Reuters survey.
Operating core profit, or earnings before interest, taxes, depreciation and amortization, was up 4 percent to $730 million, in line with analysts' expectations.
Net sales also rose 4 percent to $4 billion in the second quarter.