Arcor: won $49.39 mn after a rigid adjustment plan despite the drop in sales

Arcor implemented a severe cost adjustment plan, which allowed it to exhibit a profit of 4,001 million pesos ($49.39 mn) in the first nine months of this year, according to the updated balance sheet as of September 30. It cut expenses, reduced stocks, closed factories and lowered its debt, among other measures. The company managed to reverse the losses of 3.547 million pesos ($43.79 mn) that it had suffered in the same period of 2019.

Source: Ámbito