Ferbasa’s first-quarter profits decline as shipments slide

May 17, 2013 | 05:38 PM | Carolina Guerra

Tags  Brazil, Ferbasa, ferroalloys, ferrochrome, ferrosilicon, exports, Metal Bulletin, Carolina Guerra

SÃO PAULO — Brazilian ferroalloys producer Cia. de Ferro Ligas da Bahia (Ferbasa) saw first-quarter earnings fall year on year on reduced exports and increased costs.

Net income in the three months ended March 31 totaled 8.6 million reais ($4.2 million) compared with 20.4 million reais in the first quarter of 2012. Total revenue amounted to 185.7 million reais ($91.2 million) in the quarter, up 1.8 percent from last year.....

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