Mexican steel products, services and distribution company Grupo Collado reverted a MXN 19.2 million net loss ($1.03 million) it posted in Q3 2015 and reported a MXN 19.6 million ($1.05 million) net profit in Q3 2016, the company announced.
Net revenues in Q3 this year rose 14.1 percent, year-on-year, to MXN 1.75 billion, while gross profit was MXN 406.3 million in Q3 2016, 46 percent up, year-on-year, as compared to the MXN 278.3 million gross profit it reported in the same quarter of the year prior.
Gross margin in Q3 2016 was 23.2 percent, up from an 18.1 percent gross margin in Q3 2015.
As for the nine-period ended in September 30, Grupo Collado said net revenues totaled MXN 4.8 billion, 10.8 percent up, year-on-year.
USD = 18.6 MXN