Gerdau’s Peruvian subsidiary Siderperu saw its net profit in Q3 rise to PEN 84.1 million ($25.9 million) from PEN 26.3 million ($8.14 million) in the same quarter of 2016. Siderperu attributed the increased profit to improved gross margin and to legal cases that helped the company see income rise.
Net revenues in Q3 rose 8.9 percent, year-on-year, to PEN 390 million ($120.3 million) on a higher gross profit per ton and improved sales volumes.
Siderperu said gross margin in Q3 was 11.5 percent, relatively stable from 11.4 percent in Q3 2016.
USD = PEN 3.24 (November 7)