Profit at Brazil's Usiminas declines on debt-servicing expenses

viernes 14 de febrero de 2014 06:15 GYT

SAO PAULO Feb 14 (Reuters) - Usinas Siderúrgicas de Minas Gerais SA, Brazil's largest producer of flat steel products, reported fourth-quarter net income of 47 million reais ($19 million), down from the prior quarter after debt-servicing expenses surged, according to a securities filing on Friday.

Profit was 114.6 million reais in the third quarter.

According to the forecasts of four out of six analysts in a Reuters poll, Usiminas, as the company is commonly known, earned 73 million reais in the quarter. Another two analysts in the poll estimated a net loss of 45 million reais in the quarter.