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Lima . Ferreycorp, a leading company in the marketing of capital goods in Peru, announced Thursday a 27.8% decline in profits in the second quarter, mainly due to the impact of exchange rates.
Ferreycorp posted a net profit of 54 million soles (US $ 16.5 million) between April and June, compared to 75 million soles (US $ 22.8 million) in profits in the same period of 2017, said the company in a statement.
] Sales of Ferreycorp and its subsidiaries amounted to 1,272 million soles (386 million US dollars) in the second quarter, down 2.3% from the same period last year latest.
The weaker dynamism of the economy, the reduction of investment levels and the delay in the implementation of new mining projects and infrastructure are greater than those recorded during the last three quarters, "the company said in a statement.
According to the company, during the first half, there have been no major deliveries of equipment to the company. 39, large-scale mining, but it is estimated that they will occur during the second half of the year, without exceeding the figures of last year.The company also said that its financial expenses decreased by 6.6% year-on-year to 18 million soles ($ 5.47 million) .In the meantime, EBITDA – consolidated earnings before interest, taxes, depreciation and amortization – of Ferreyros between April and June was decreased by 8.5% year-on-year to settle at 149 million soles (45.3 million US dollars).
Ferreycorp fell 1.2% Thursday, to 2.42 soles (US $ 0.73) at the local stock exchange.
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