Peru’s only iron ore producer, Shougang Hierro Peru, reported a 32.2 percent year-on-year decline in net profit in Q4, to PEN 54.1 million ($16.6 million).
The company said net revenues in Q4 dropped 15.4 percent, year-on-year, to PEN 317.8 million ($97.9 million).
Shougang Hierro Peru’s gross profit in Q4 declined nearly 30 percent, year-on-year, to PEN 133.5 million ($35 million), mainly on reduced revenues.
As for the full year of 2017, Shougang Hierro Peru reported a net profit of PEN 417.4 million ($128.6 million), 100.6 percent up, year-on-year.
USD = PEN 3.24 (February 15)