Magnesita Refratarios posted a 10% year-on-year drop in its second quarter operating profit as it was hit by rising raw material costs and negative currency effects.
The Brazilian refractories and minerals producer reported earnings before interest and tax (EBIT) of reais (R) 79.5m. ($50m.) compared with R88.2m. in the same period last year.
Sales rose 5.7% year on year to R583m. driven by the...