Peruvian iron ore producer Shougang Hierro Peru (SHP) posted a net profit of PEN 962.9 million ($260.95 million) for the first half of 2023, 25.38 percent less on yearly basis.
Net sales declined by 14.17 percent to PEN 3,08 billion, the production costs increased by 6.18 percent to 1.46 billion and the operational profit declined by 27.87 percent to 1.51 billion.
The company ascribes the reduced profit to lower iron ore prices during the first half of 2023.
USD = PEN 3.69 (August 28)