Shougang Hierro Peru sees net profit decline in 2018

Tuesday, 12 March 2019 00:45:43 (GMT+3)   |   Sao Paulo
       

Mexico-based iron ore producer Shougang Hierro Peru saw its net profit for the full year 2018 decline 45.1 percent, year-on-year, to PEN 229.1 million ($69.5 million), the company said.

The company said net revenues in 2018 reached PEN 1.3 billion ($394.2 million), 7.82 percent down, year-on-year. Gross profit in 2018 dropped 25.3 percent, year-on-year, to PEN 590.1 million ($178.9 million).

As for Q4, Shougang Hierro Peru said net profit was PEN 4.4 million ($1.3 million), a steep decline from PEN 54.1 million ($16.4 million) in Q4 2017.

USD = PEN 3.29 (March 12)


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