Mexican mining, rail and infrastructure company Grupo Mexico on Wednesday reported a 10.75% year-on-year drop in its net profit in the first quarter, hurt by a slip in copper output higher costs.
The company, one of the world’s top copper producers, said in a report to Mexico’s market bourse that it earned $412.4-million in net profit from January through March. Analysts had forecast $430-million, according to Thomson Reuters I/B/E/S.
