Mexican steel service center Grupo Collado reverted a MXN 12 million net loss reported in Q1 last year and posted a MXN 244,000 net profit in Q1, the company said.
Collado’s net revenues in Q1 declined 1.1 percent, year-on-year, to MXN 1.4 billion, due to lower average selling prices and reduced activity in the nation’s public civil construction sector.
The company’s gross profit in Q1 was MXN 276.2 million, 8.3 percent up, year-on-year, while gross margin over net sales in Q1 reached 19.7 percent, up from a 17.9 percent gross margin reported in the same quarter of the previous year.