Peruvian iron ore producer Shougang Hierro Peru (SHP) reported net income equivalent to $94.528 million for the first quarter of 2026, compared to $71.730 million for the first quarter of 2025.
The increase in profit primarily reflects the lower impact of income tax charges in the first quarter of 2026 ($49.718 million) compared from $88.334 million in the first quarter of 2025.
Net sales increased 4.3 percent to $397.361 million and manufacturing costs increased 29 percent to $237.260 million. Gross profit fell 18.8 percent to $160 million and operating profit fell 14.6 percent to $142.436 million.
The company sold 5.430 million tons of iron ore during the period, compared to 4.871 million tons in the first quarter of 2025.
