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)

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