Chile's Elecmetal earnings up in Q2 thanks to metals division
Chilean metal parts manufacturer Elecmetal posted a net profit of 13.2bn pesos (US$23.1mn) in the second quarter compared to 12.2bn pesos in 2Q13, the company said in its latest financial results filed with securities regulator SVS.
For the first six months of the year, Elecmetal reported 23.8bn pesos in net income, up 23.5% from Jan-Jun 2013.
The company's revenues in the quarter amounted to 153bn pesos, up 17.7% from 2Q13, mainly as a result of a 25.4% increase in sales from the company's specialty metal parts division. This division supplies Chile's mining sector with grinding media, crushing components, ground engaging tools and other items.
The division's operational profit totaled 10.39bn pesos in 2Q14 compared to 10.37bn pesos the previous year. For the first half of the year, it was up 17.4% to 21.2bn pesos.
Elecmetal also has interests in the packaging and wine sectors.
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