Inmet profit drops 17 pct on forex losses

Thu Feb 21, 2013 5:42pm EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

TORONTO (Reuters) - Canada's Inmet Mining Corp IMN.TO reported a 17 percent fall in fourth quarter profit on Thursday as foreign exchange losses offset stronger revenue.

The base metal miner said earnings attributable to shareholders dropped to $38.8 million, or 56 cents a share, in the quarter ended December 31. That compared with $46.5 million, of 67 cents, in the year-ago period.

Revenue rose 11 percent to $259.9 million on higher copper and zinc sales.

(Reporting by Julie Gordon)