Peruvian iron ore producer Shougang Hierro Peru saw its net profit in the first half (H1) of the year drop 48.9 percent, year-on-year, the company said while releasing its Q2 and H1 results. Net profit for the period totaled PEN 144.5 million ($44.2 million).
The company said net revenues in H1 reached PEN 704.5 million ($215.5 million), 15.1 percent down, year-on-year. Iron ore sales volumes in H1 reached 7.8 million mt, 17.3 percent up, year-on-year.
As for Q2, Shougang Hierro Peru saw its net profit decrease 58.6 percent, year-on-year, to PEN 35.3 million ($10.8 million).
The Peruvian miner did not disclose iron ore sales volumes for Q2, but said those dropped 8.5 percent, year-on-year. Net revenues for Q2 declined 8.5 percent, year-on-year, to PEN 302.9 million ($92.6 million).
USD = PEN 3.27 (August 3)