Peruvian steelmaker Aceros Arequipa said net profit in Q4 rose nearly 55 percent, year-on-year, to PEN 65.7 million ($19.3 million). The company attributed the stronger net profit to an increased gross profit and reduced operating costs.
Gross profit in Q4 was PEN 120 million ($35.4 million), 8.4 percent up, year-on-year, and 6.1 percent up, quarter-on-quarter. Gross margin in Q4 reached 18 percent, slightly up from 17 percent in Q4 2018.
Net revenues in the last quarter of the year rose 3.2 percent, year-on-year, to PEN 678 million ($200 million). EBITDA in Q4 improved 10.8 percent, year-on-year, to PEN 102 million ($30.1 million).
USD = PEN 3.39 (February 7)