Argentinian steelmaker Ternium Siderar saw its net profit rise nearly 125 percent in Q2, year-on-year, thanks to increased net sales.
Siderar posted an ARS 812 million ($54.6 million) net profit in Q2, up from the ARS 361.3 million profit reported in the same period of the year prior.
Net revenues in Q2 rose 14.7 percent, year-on-year, to ARS 6.48 billion, from ARS 5.65 billion.
As for Q3, Siderar expects steel shipment levels to be slightly inferior when compared to Q2, which should primarily impact the domestic market, the company said, but they will compensate for weaker domestic demand with higher exports.
1 USD = ARS 14.86 (August 3)