Peru’s only iron ore producer Shougang Hierro Peru reverted a PEN 52.9 million ($15.6 million) net profit reported in Q3 2015 and posted a PEN 18 million ($5.3 million) net loss in Q3 this year, according to a company press release.
The company’s net revenues in Q3 grew nearly 24 percent, year-on-year, to PEN 277.04 million.
Gross profit in Q3 this year was PEN 114.1 million, as opposed to a PEN 94.1 million gross profit reported in Q3 2015.
Commenting on the January-September period, Shougang said iron ore prices and a strike initiated in September 12 this year strongly impacted the company’s results.