Mexico’s Grupo Collado posts decreased net profit in 2018

Wednesday, 13 March 2019 00:48:42 (GMT+3)   |   Sao Paulo

Mexican steelmaker Grupo Collado said net profit in the full year of 2018 was MXN 119.1 million ($6.2 million), down from MXN 161.3 million ($8.4 million) in 2017.

The company said net revenues in the full year of 2018 reached MXN 9.8 billion ($507.9 million), 24.9 percent up, year-on-year. The company’s gross profit in the full year of 2018 improved 17.3 percent, year-on-year, to MXN 1.6 billion ($82.9 million), while gross margin dropped to 17.3 percent in 2018, from 18.4 percent the year prior.

As for Q4 results, the company went from a net profit of MXN 2.5 million ($129,600) in Q4 2017 to a net loss of MXN 20.6 million ($1.07 million) in Q4 2018. Net revenues rose 36 percent, year-on-year, to MXN 2.5 billion ($129.5 million).

Gross profit was MXN 285.8 million ($14.8 million) in Q4, 2.2 percent up, year-on-year. Gross margin for the last quarter of the year fell to 11.3 percent, from 15 percent in Q4 2017.

USD = MXN 19.29 (March 13)

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