Canadian miner Teck profit falls on lower metal, coal prices

Thu Feb 7, 2013 5:25am EST
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Feb 7 (Reuters) - Canadian diversified miner Teck Resources Ltd reported on Thursday a 41 percent drop in adjusted fourth quarter profit on lower metal and coal prices.

Earnings attributable to shareholders were C$145 million, or 25 Canadian cents per share, in the quarter ended Dec 31. That compared with C$637 million, or C$1.08 per share, in the year-earlier quarter.

Adjusted to remove one-time items, earnings were C$354 million, or 61 Canadian cents a share, in the fourth quarter. That compared with C$613 million, or C$1.04 a share, in the year-ago period.

Analysts on average had expected earnings of 48 Canadian cents per share, on revenue of C$2.55 billion, according to Thomson Reuters I/B/E/S.

Revenue fell 10 percent to C$2.7 billion.