Peruvian steelmaker Aceros Arequipa said net profit in Q3 dropped 19 percent, year-on-year, to PEN 32.7 million, due to a weaker gross profit. Gross profit in Q3 was PEN 97 million, 9.2 percent down, year-on-year.
Aceros Arequipa said gross margin in Q3 decreased to 14.9 percent, down from 16.6 percent in Q3 2017. EBITDA was PEN 76 million, 11.3 percent down, year-on-year, and 5 percent down, quarter-on-quarter.
Net revenues in Q3 rose 1.4 percent, year-on-year, to PEN 653 million, due to higher selling prices, the company said.