Empresas Copec decreases its profits by 97.1% during first quarter

Empresas Copec reported a sharp drop during its first quarter. According to the company’s financial statements, profits in the first tranche went from US $221 million in 2019 to US $6 million, representing a decrease of 97.1%. The company explained that a decrease in profits is mainly due to a drop in the operating result of approximately US $134 million, which went from US $309 million in the first quarter of 2019 to US $175 million in 2020.

Source: La Tercera