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Peruvian iron ore producer reverts loss, posts profit in Q4

Tuesday, 14 February 2017 00:00:28 (GMT+3)   -   Sao Paulo
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Peru’s only iron ore producer, Shougang Hierro Peru, reverted a PEN 73.8 million ($22.6 million) net loss in Q4 2015 to post a PEN 80 million ($24.5 million) net profit in Q4 2016, it said this week on a securities exchange filing.
 
According the iron ore producer, net revenues in Q4 rose 67 percent, year-on-year, to PEN 375.9 million, while cost of sales improved 3.5 percent in the same period to PEN 216.08 million.
 
As for the fiscal year of 2016, Shougang Hierro Peru saw its net profit jump 87.5 percent, year-on-year, to PEN 208.03 million. Net revenues in the same period rose 14.7 percent, year-on-year, to PEN 1.23 billion.

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