Peruvian steelmaker Aceros Arequipa’s profit reduced 12.5 percent to PEN 23.8 million ($7.7 million) in the fourth quarter of 2014 (Q4), year-on-year, according to media reports.
The company registered a 5 percent increase in sales to PEN 614 million ($199.02 million), year-on-year, while sales and administrative costs rose by 7.7 percent.
Aceros Arequipa’s full year results reached PEN 68.2 million ($22.1 million) in earnings, with sales reaching PEN 2.4 billion ($777,9 million), 12 percent up year-on-year.
The company’s export in 2014 rose 22.1 percent to PEN 370 million ($119.9 million). The company exports most of its products to Colombia, Ecuador and Bolivia.
Aceros Arequipa is controlled by local Cilloniz group, which completed a rolled steel plant in the port of Pisco last year. The new facility had $145 million investments.