Peru’s only iron ore producer, Shougang Hierro Perú, saw its net profit rise 18.1 percent in Q2, year-on-year, to PEN 82.4 million ($24.6 million), the company said while releasing its Q2 results.
Net profit in H1 was PEN 146 million ($43.6 million), 10.7 percent up, year-on-year.
Net revenues in Q2 totaled PEN 313.9 million, 3.7 percent down, year-on-year, while the cost of sales in the same period rose 10.1 percent, year-on-year, to PEN 196.3 million.
As a result of the increased cost of sales and declining revenues, Shougang saw its gross profit in Q2 reach PEN 117.5 million, 20.3 percent down, year-on-year.
1 USD = PEN 3.34 (August 3)