Peruvian flat steel service center chain Comercial del Acero (Comasa) said net profit in Q3 dropped 43 percent, year-on-year, to PEN 3.5 million. Net revenues in Q3 reached PEN 116.2 million, 6.5 percent up, year-on-year.
Cost of sales in Q3 grew to PEN 100.7 million, from PEN 90.6 million in the same quarter of 2017. Comasa reported a gross profit of PEN 15.5 million in Q3 this year, down from PEN 18.4 million.
As for the nine months ended on September 30, Comasa said net profit reached PEN 20.2 million, nearly 20 percent down, year-on-year. Net revenues for the nine-month period was PEN 352.7 million, 12 percent up, year-on-year.