February 22, 2012 / 1:52 PM / 6 years ago

Sherritt profit falls on lower commodity prices

(Reuters) - Diversified miner Sherritt International Corp (S.TO) reported a 34 percent fall in fourth-quarter profit, hurt by a premium payment and price declines in nickel and cobalt.

For the October-December quarter, net profit fell to C$28.1 million, or 9 Canadian cents a share, from C$42.7 million, or 14 Canadian cents a share.

Revenue for Sherritt, which has operations in Canada, Cuba, Madagascar, Pakistan and Spain, rose 11 percent to C$536.8 million.

Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Gopakumar Warrier

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