Peru’s only iron ore producer Shougang Hierro posts $5.3 million net loss in Q3

Monday, 07 November 2016 00:33:23 (GMT+3)   |   Sao Paulo
       

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.

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