Gerdau’s Peruvian steelmaker Siderperu saw its net profit in Q4 spike 312 percent, year-on-year, to PEN 34.1 million ($10.4 million), the company said while releasing its quarterly results.
The steelmaker attributed the strong year-on-year net profit increase to an improved gross profit in Q4 and reduced currency losses in the same period.
Siderperu said gross profit in Q4 was PEN 63.7 million ($19.4 million).
USD = PEN 3.27 (Feb. 13)