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Gerdau posts quarterly profit $320mn

SAO PAULO : Brazilian steelmaker Gerdau posted second-quarter net income of 503 million reais ($320 million) on Thursday
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By Muhammad Iqbal
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gerdauSAO PAULO: Brazilian steelmaker Gerdau posted second-quarter net income of 503 million reais ($320 million) on Thursday, compared with 856 million raised a year earlier.

The Porto Alegre, Brazil-based company, the world's second-biggest producer of steel products for the construction industry, was expected to earn 534.2 million raised, according to the average estimate of Reuters,

Copyright Reuters, 2011

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