Siderperu, the Peruvian subsidiary of integrated steelmaker Gerdau, saw its net profit in Q1 drop 36.6 percent, year-on-year, to PEN 26.8 million ($8.11 million), the company said this week.
Siderperu said net revenues in Q1 rose 3.5 percent, year-on-year, to PEN 381 million ($115.1 million). Gross profit in Q1 was PEN 41.1 million ($12.4 million), 38.3 percent down, year-on-year.
USD = PEN 3.30 (May 6)