Mexico's Grupo Collado sees net profit decline in Q1

Tuesday, 14 May 2019 00:11:02 (GMT+3)   |   Sao Paulo

Mexican steel service center Grupo Collado saw its net profit in Q1 decline 54.1 percent, year-on-year, to MXN 30.2 million ($1.57 million), the company said while releasing its quarterly results.

Net revenues in Q1 reached MXN 2.3 billion ($121.3 million), 9.8 percent up, year-on-year, which the company attributed to higher steel selling prices. Gross profit in Q1 was MXN 482.5 million ($25.1 million), 8.6 percent up, year-on-year.

Cost of products sold in Q1 rose to MXN 1.8 billion ($96.7 million) from MXN 1.6 billion ($87.7 million) in Q1 2018.

USD = MXN 19.18 (May 14)

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