Mexican longs steelmaker Grupo Simec saw its net profit in Q3 this year rise 88.7 percent, year-on-year, to MXN 1.3 billion ($64.8 million), the company said while releasing its quarterly results.
Simec said net revenues in Q3 reached MXN 9.8 billion ($488.7 million), 44.7 percent up, year-on-year. Steel sales volumes in Q3 reached 538,000 mt, up from 533,000 mt in Q3 2017.
The company’s gross profit in Q3 was MXN 1.4 billion ($69.8 million), 50.7 percent up, year-on-year. Simec’s EBITDA in Q3 improved 35.1 percent, year-on-year, to MXN 1.4 billion ($69.8 million).
USD = 20.05 MXN (October 30)