Mexico's Penoles 3rd-qtr profit down 9.1 pct on lower metal prices
MEXICO CITY Oct 28 (Reuters) - Industrias Penoles , a Mexican miner and metals processor, said on Tuesday its third-quarter profit fell 9.1 percent, hurt by lower metals prices, higher costs and currency losses.
Penoles, which runs Fresnillo, the world's largest primary silver producer, reported that profit slid to 1.16 billion pesos ($86.7 million), from 1.28 billion pesos a year earlier.
Revenue fell 1.3 percent to 15.55 billion pesos.
The company said gold prices were down 3.4 percent over the quarter compared with the same period last year, while silver prices were down 7.6 percent.
Shares in the company were up 3.38 percent at 293.01 pesos before the company reported.
($1 = 13.4235 pesos at end Sept) (Reporting by Gabriel Stargardter)
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