Peruvian iron ore producer Shougang Hierro Peru (SHP) has posted a net profit of PEN 2.34 billion ($603.9 million) for 2023, 7.2 percent more than in 2022.
Net sales declined by 4.2 percent to PEN 6.25 billion, the production costs declined by 3.4 percent to PEN 2.82 billion, the gross profit declined by 4.8 percent to PEN 3.43 billion and the operational profit declined by 6.2 percent to PEN 3.16 billion.
The company ascribed the higher net profit, despite the lower operational performance, to higher financial gains and lower impact of exchange rate variations on its results in 2023, when compared to 2022.
During 2023, the company sold 18.6 million mt of iron ore, a volume roughly stable on yearly basis.
USD = PEN 3.87 (February 14)