Mexican long steel producer Simec saw its both its net profit and revenue increase in Q3, according to a company’s filing at the nation’s stock exchange, Bolsa Mexicana de Valores (BMV).
Simec said net profit in Q3 was MXN 1.4 billion ($75.2 million), up from a loss of MXN 292 million ($15.6 million) in the same period of the year prior.
The longs producer said revenues rose 5.1 percent in Q3, year-on-year, to MXN 6.6 billion, while cost of sales diminished 2.7 percent in the year-on-year analysis. EBITDA was MXN 1.3 billion in Q3, 63.8 percent up, year-on-year.
USD = 18.60 MXN (October 20)