Brazil and energy dominate the ranking of Latin America's top 500 companies.
BY CHRONICLE STAFF
Pemex tops the first LBC 500 - the annual ranking of Latin Americas top 500 companies from Latin Business Chronicle. The ranking is based on 2007 revenue data from Economatica and individual companies.
However, when it comes to profits, Pemex is hardly a role model: It lost $1.7 billion last year - the worst result on the ranking.
That contrasts with Brazilian state oil company Petrobras, which posted profits of $13.1 billion - the best result in Latin America. Petrobras also managed to boost its revenues by 21.3 percent to $87.7 billion. That was not enough, though, to jump from its third rank in Latin America.
Venezuelan state oil company PDVSA saw a revenue decrease of 3 percent last year to $96.2 billion. Along with Pemex advancing slightly, that means PDVSA now ranks behind the Mexican company and second in all of Latin America. Like Petrobras, it also posted high profits - $6.3 billion, an increase of 15 percent.
All in all, Latin Americas top 500 companies boosted their combined revenues last year by 26.1 percent to $1.2 trillion. Profits grew by 22.6 percent to $116.2 billion, according to Economatica data of the regions top publicly-traded companies analyzed by Latin Business Chronicle.
STARS: BRAZIL AND PERU
Brazil dominates the LBC 500, accounting for 198 of the top 500 companies. Mexico and Chile follow, with 95 and 84 respectively. The number of Chilean...
Keywords: Argentina, Chile, Colombia, Construction, Energy, France, Germany, Mexico, Mining, Panama, Peru, Retail, Spain, Sweden, Technology, USA, Venezuela