The Peruvian iron ore producer, Shougang Hierro Peru (SHP), has posted a net profit of PEN 2.089 billion ($567.7 million) for 2024, against PEN 2.337 billion in 2023.
According to the company, the lower profit reflects lower sales prices for its iron ore, despite the higher volume sold.
Net sales declined by 6.2 percent to PEN 5.864 billion, the gross profit declined by 15.9 percent to PEN 2.883 billion and the operational profit declined by 17.7 percent to PEN 2.601 billion.
During 2024, the company sold 19.843 million mt of iron ore against 18.850 million mt in 2023.
Considering the fourth quarter of 2024, the net profit declined by 44.4 percent to PEN 475 million, with net sales declining by 18.4 percent to PEN 1.343 billion, the gross profit declining by 29.3 percent to PEN 679 million, and the operational profit declining by 30.1 percent to PEN 679 million.
$=PEN 3.68 (February 24)
