The Peruvian iron ore producer Shougang Hierro Peru (SHP) has posted a net profit of PEN 581.95 million ($154.36 million) for the first quarter of 2024, down 7.34 percent compared to the corresponding period in 2023.
Net sales increased by 2.33 percent to PEN 1.857 billion ($494.75 million), the production costs increased by 13.5 percent to PEN 908.47 million ($241.97 million), and the operational profit declined by 10.43 percent to PEN 863.47 million ($229.99 million).
During the first quarter, the company sold 5.662 million mt of iron ore, up 9.24 percent on yearly basis.
$1 = PEN 3.77 (May 1)