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Article: Canada : Sherritt International Q2 profit sinks 70 pct.(Financial report)
- Article from:
- TendersInfo
- Article date:
- July 30, 2009
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Byline: shiv03
Sherritt International (S.TO) posted a 70 percent fall in second-quarter profit hurt by lower nickel, cobalt and oil prices due to weakened global industrial demand in the base metals markets. The Canadian company, whose main assets are in Cuba, Canada and Madagascar, earned C$24.4 million ($22.5 million), or 8 Canadian cents a share, in the quarter ended June 30. That compared with a profit of C$80.3 million, or 28 Canadian cents a share in the year-ago period.
Analysts on average were expecting a profit of 8 Canadian cents a share, excluding any exceptional items, according to Reuters EstimatesRevenue for the quarter fell 19 percent to ...