Duro Felguera se dispara hasta un 26% en Bolsa tras los resultados y su nuevo proyecto en México

Duro Felguera's stock surged by up to 26% on the Spanish stock market following the release of its first half-year results and the announcement of a new project in Mexico. The company's shares jumped 26.1% to 0.259 euros in the continuous market, bringing its market value to 120 million euros. In its latest accounts, Duro Felguera reported a net profit of 241.6 million euros, a stark contrast to the losses of 26 million euros in the same period last year.

The turnaround was largely attributed to the execution of the restructuring plan and the cancellation of provisions for litigations, amounting to 235 million euros. The company also announced an extraordinary meeting of shareholders for September 18th to approve its involvement in a major Mexican electrical project, a 1,000 megawatt combined cycle power plant with an investment budget of 1,500 million euros.

The project, named Tula, is being promoted by Mexico's Federal Commission of Electricity and Duro Felguera's stake in the project amounts to approximately 210 million euros. The main contractor is General Electric. The Tula project, along with another fertilizer plant project, Mexico's Escoln, forms part of Duro Felguera's growth plan, designed by the Asturian engineering group Prodi, following the approval of its restructuring plan.

Duro Felguera's chief executive, Eduardo Espinosa, explained that Tula marks the beginning of this new phase, following the judicial clearance of the restructuring plan.