MRS Logística's Q3 profits up as iron ore shipments jump
Brazilian rail operator MRS Logística posted a third quarter profit of 156mn reais (US$66.6mn), up 17.6% compared with 132mn reais in 3Q12, according to the company's quarterly results report.
Net revenue for the quarter increased 8.8% to 815mn reais, while Ebitda was also up 17% year-on-year to 341mn reais.
During the third quarter, the company handled 31.1Mt of iron ore, its main cargo, up 8.9% compared with 28.5Mt in the same period of 2012. Total cargo in the quarter grew 5.6% to 42.9Mt.
Founded in 1996, the company operates Brazil's southeastern federal railroad network, which totals 1,643km of railway and connects Sepetiba port in Rio de Janeiro with Minas Gerais and São Paulo states.
Use this link to see the company's results report in Portuguese.
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