Ternium S.A. (TX)

UPDATE 1-Profits from Ternium edge up, slimmer margins seen in next quarter

Steelmaker Ternium on Wednesday posted a first-quarter net profit that edged up 2%, propelled by larger shipments of steel even as it predicted that margins could shrink in the coming months. Ternium, which produces flat steel products for industrial use, posted a net profit of $491 million while its net sales rose by about a third to reach $4.8 billion during the quarter. The company's steel shipments during the January-to-March period, meanwhile, jumped 27% year-on-year to hit 3.9 million metric tons.