Grupo Collado profits soar

Mexican steel services and distribution company Grupo Collado (OTC BB: GCLOY) saw its net profit rocket 802% in the first nine months to 196mn pesos (US$17.7mn), the company informed Mexico City's stock exchange. Accumulated Ebitda reached 213mn pesos, a 61% jump over same-period last year, the company said. Net sales were up 20.3% to 2.2bn pesos during the period, of which nearly 2.0bn pesos came from the domestic market. In terms of volume, sales grew 6% to 361,000t. Grupo Collado has a strategic partnership with Ryerson Tull of the US, which contributes value-added products and services, and acquired Monterrey-based steel components manufacturer RGC and its subsidiary Aceros RGC earlier this year.