The Peruvian iron ore producer, Shougang Hierro Peru (SHP), has posted a net profit of PEN 1.373 billion ($367.11 million) for H1 2024, 42.6 percent more than in H1 2023.
The main driver for the increased profit was the financial activities result, positive in H1 2024 at PEN 403.9 million and negative in H1 2023 at PEN 39.9 million.
Net sales increased by 6.62 percent to PEN 3.284 billion, the production costs increased by 12.48 percent to PEN 1.646 billion, and the operational profit declined by 0.69 percent to PEN 1.507 billion.
During the first half of 2024, the company sold 10.427 million mt of iron ore, 12.2 percent more on yearly basis.
$=PEN 3.77 (July 30)
