Shougang Hierro Peru posts increased net profit in Q1

Wednesday, 15 May 2019 19:21:24 (GMT+3)   |   Sao Paulo

Peru’s key iron ore producer Shougang Hierro Peru said net profit in Q1 rose 67.4 percent, year-on-year, to PEN 182.8 million ($54.9 million).

The company’s net revenues in Q1 totaled PEN 518.5 million ($155.9 million), 28.9 percent up, year-on-year.

Iron ore sales volumes in Q1 reached 4.4 million mt, 0.36 percent down, year-on-year.

The company said gross profit in Q1 was PEN 279.2 million ($83.9 million), up from PEN 199.3 million in Q1 2018.

USD = PEN 3.32 (May 15)

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