Mexico’s Grupo Collado posts increased profit in Q2

Friday, 06 August 2021 22:31:40 (GMT+3)   |   San Diego
       

Mexican steel service center Grupo Collado saw its net profit in Q2 this year rise 445.5 percent, year-over-year, to MXN 225.3 million ($11.2 million), the company said while releasing its quarterly results.

Grupo Collado said net revenues in Q2 this year increased 97.8 percent, year-over-year, to MXN 3.21 billion ($160.1 million). Grupo Collado attributed the stronger revenues to the restart of activities post-Covid-19 this year, as many of the company’s clients didn’t operate between April and June 2020.

The company reported a gross profit of MXN 935.2 million ($46.6 million), 131.3 percent up, year-over-year. Gross margin in Q2 this year improved to 29.1 percent, from 24.9 percent in Q2 2020.

USD = MXN 20.07 (August 6)


Most Recent Related Articles

Mexican economic activity increases in August

AHMSA could file for bankruptcy in the US to avoid payments

AHMSA reducing use of natural gas amid increasing prices

CMC reports strong fiscal Q4 earnings

Mexican iron pellet output increases in July