Mexican steel service center Grupo Collado said net profit in Q1 declined to MXN 65.8 million ($3.4 million) in Q1 from MXN 130.3 million ($6.79 million) in the same quarter of the year prior.
The company said net revenues in Q1 rose 1.3 percent, year-on-year, to MXN 2.1 billion ($111 million) thanks to higher average steel selling prices.
Grupo Collado said gross profit in Q1 was MXN 444.3 million ($23.1 million), 2.5 percent down, year-on-year. Gross margin in Q1 was 20.9 percent, down from 21.7 percent in Q1 2017.
USD = MXN 19.17 (May 4)