Peruvian steelmaker Aceros Arequipa said net profit in Q4 surged 316 percent, year-on-year, to PEN 58.5 million ($18.1 million) due to an increased gross profit.
Gross profit in Q4 was PEN 119.2 million ($37 million), 61 percent up, year-on-year.
The steelmaker saw net revenues in Q4 rise 24 percent, year-on-year, to PEN 633.1 million ($196.8 million). The company attributed the increased revenues to higher sales volumes and selling prices.
Aceros Arequipa said EBITDA in Q4 was PEN 98 million ($30.4 million), 49 percent up, year-on-year. EBITDA margin reached 15 percent in Q4, up from 13 percent in the same quarter of the year prior.
As for the full year of 2017 Aceros Arequipa reported a net profit of PEN 128 million ($39.8 million), up from PEN 98.4 million ($30.5 million) in 2016.
USD = PEN 3.21 (January 30)