Gerdau’s Siderperu sees net profit decline in Q4

Wednesday, 13 March 2019 00:50:22 (GMT+3)   |   Sao Paulo

Siderperu, the Peruvian subsidiary of Brazilian-based integrated steelmaker Gerdau, saw its net profit in Q4 decline 0.7 percent, year-on-year, to PEN 33.9 million ($10.3 million), the company said.

Siderperu said net revenues in Q4 rose 23.5 percent, year-on-year, and 0.7 percent, month-on-month, to PEN 421 million ($127.8 million), due to improved demand and higher gross profit per metric ton.

The company’s gross profit in Q4 reached PEN 58 million ($17.6 million), down from PEN 63 million in Q4 2017.

USD = PEN 3.29 (March 13)

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