Mexico's Cemex announced that its consolidated net sales for the second quarter of 2004 were US$1.9 billion, 5% higher than those during the same period of 2003. Consolidated cement sales volumes for the quarter remained flat at 16.8 million metric tons, while ready-mix volumes grew 9% to 6.1 million cu meters.

During second quarter 2004, free cash flow reached US$444 million, up 14% versus the same 2003 quarter. Operating income was US$469 million, 20% higher than second quarter 2003.

The company's Mexican operations reported net sales of US$691 million, 3% lower than second quarter 2003. Domestic cement sales volumes were down 1% during the period. While construction continues to be strong, cement volumes for the quarter were slightly lower due to strong pre-electoral spending during the April-June period of 2003.

In the United States, net sales were US$500 million, 11% higher than second quarter 2003. Domestic cement and ready-mix sales volumes for the quarter grew 9% and 7%, respectively. The recovery of the U.S. economy is driving construction activity in both the private and public sectors, according to Cemex.