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Brazil's Gerdau posts Q4 profit of $252 million

SAO PAULO: Brazilian steelmaker Gerdau posted on Thursday fourth-quarter net income of 219.7 million reais ($252 milli
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By Abdul Ahad
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SAO PAULO: Brazilian steelmaker Gerdau posted on Thursday fourth-quarter net income of 219.7 million reais ($252 million), down from 643.5 million reais in the same period of 2009.

Gerdau, Brazil's largest maker of steel products for the construction industry, was expected to earn 222.5 million reais in the quarter, according to the average estimate of seven analysts in a Reuters survey.

Copyright Reuters, 2011

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