Brazilian steel and iron ore producer Usiminas has reported a rise in adjusted earnings of 20.35% year-on-year in the first quarter of 2018 due to achieving higher sales volumes of steel and iron ore.
The company reported adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) for the three months of 641.20 million Reais ($189.28 million) on Friday April 20.This compared with 532.77 million Reais in the corresponding period in 2017, and was the best quarterly figure since 2010, the steelmaker said.The better results were a result of the improved performance of the country's economy, it added.Usiminas' net revenues rose by 37.98% in...