Brazil steelmaker Gerdau posts Q1 profit of 14 mln reais

miércoles 4 de mayo de 2016 07:51 GYT

RIO DE JANEIRO May 4 (Reuters) - Brazilian steelmaker Gerdau SA reported on Wednesday a first quarter net profit of 14 million reais ($3.9 million), creeping into the black in the midst of the country's deepest recession in decades and a slump in steel demand.

Gerdau posted adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 930 million reais and net revenue of 10.1 billion reais.

($1 = 3.557 reais)

(Reporting by Stephen Eisenhammer; Editing by Chizu Nomiyama)