On April 29, Mexican steelmaker Grupo Simec, S.A.B. de C.V. issued its financial results for the first quarter of 2010.
According to the financial results, the net profit of the company was Pesos 577 million ($46.9 million) in the first quarter of 2010, compared with a net profit of Pesos 440 million in the first quarter of 2009, increasing 31 percent.
Sales revenues in the first quarter of 2010 saw a increase of 26 percent, rising from Pesos 5.1 billion in the previous year to Pesos 6.4 billion ($520.2 million).
The EBITDA of Grupo Simec was Pesos 870 million ($70.7 million) in the first quarter of 2010, compared with an EBITDA of Pesos 660 million in the first quarter of 2009, increasing 36 percent.