The Peruvian iron ore producer, Shougang Hierro Peru (SHP), has posted a net profit of PEN 251.05 million ($68.593 million) against PEN 581.35 million for Q1 2024.
According to the company, the lower profit reflects lower volumes of iron ore sold and a lower average price of the product sold.
Net sales declined by 28.2 percent to PEN 1.333 billion, the production costs declined by 29.1 percent to PEN 643.777 million, the gross profit declined by 17.3 percent to PEN 689.827 million, and the operational profit declined by 32.3 percent to PEN 584.263 million.
During Q1 2025, the company sold 4.869 million mt of iron ore, 14.2 percent less on a yearly basis.
$=PEN 3.66 (May 02)