First Quantum profit rises on higher copper, gold sales

Wed Oct 31, 2012 5:38pm EDT
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Oct 31 (Reuters) - Base metal miner First Quantum Minerals Ltd reported a 15 percent rise in third-quarter profit, helped by higher copper and gold sales.

Net earnings attributable to shareholders rose to $107.3 million, or 23 cents per share, for the quarter ended Sept. 30, from $90.9 million, or 20 cents per share, a year earlier.

Analysts on average had expected earnings of 24 cents per share, according to Thomson Reuters I/B/E/S.

Revenue rose about 11 percent to $724.8 million.

Copper sales for the quarter rose by about 8 percent to 77,396 tonnes, while gold sales rose by about 3 percent 48,889 ounces.