Inmet profit drops 17 pct on forex losses

Thu Feb 21, 2013 5:42pm EST
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TORONTO Feb 21 (Reuters) - Canada's Inmet Mining Corp 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 Dec. 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.