Vicunha posts loss of over US$7mn
Bnamericas Published: Tuesday, August 19, 2003
Vicunha Siderurgia, the parent company that controls Brazilian flat steelmaker CSN (NYSE: SID), reported a net loss of 21.5mn reais (currently US$7.12mn) for the second quarter of 2003, down from the loss of 165mn reais in same-quarter last year. The holding company posted a net profit of 71.2mn reais for the first half, a reversal of fortunes compared to 313mn reais in losses in 1H02. Vicunha Siderurgia owns 46.5% of CSN's total capital.
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