Monday , October 22 2018
Breaking News
Home / International Customs / Brazil / Brazil steelmaker Usiminas net income jumps on economic rebound
Brazil steelmaker Usiminas net income jumps on economic rebound

Brazil steelmaker Usiminas net income jumps on economic rebound

BRASILIA: Brazilian steelmaker Usinas Siderúrgicas de Minas Gerais SA reported net income of 157 million reais ($46.4 million) in the first quarter, a 45 percent rise from a year earlier, amid an economic rebound that boosted net revenue, it said on Friday.

The steelmaker, known as Usiminas, said adjusted earnings before interest, tax, depreciation and amortization (EBITDA), a gauge of operating profitability, was 622 million reais in the period, up from 528 million reais.