Peru’s key iron ore producer, Shougang Hierro Peru, saw its net profit in Q3 surge 215.1 percent, year-on-year, to PEN 252.7 million ($75.5 million), the company said while releasing its quarterly results.
Net revenues in Q3 reached PEN 954.2 million ($285.4 million), up nearly 190 percent, year-on-year. Gross profit in Q3 was PEN 573.8 million ($171.6 million), up from PEN 143.8 million ($43 million) in Q3 2018.
As for the accumulated period of January to September 2019, Shougang Hierro Peru reported a net profit of PEN 740.1 million ($221.3 million), 229.3 percent up, year-on-year.
Revenues in the nine-month period reached PEN 2.1 billion ($628.3 million), 103.2 percent up, year-on-year.
USD = PEN 3.34 (November 1)