Teck Resources' adjusted profit falls on low coal, copper prices

Thu Feb 13, 2014 5:25am EST
 
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Feb 13 (Reuters) - Teck Resources Ltd, Canada's largest diversified miner, reported a 45 percent drop in quarterly adjusted profit, hurt by lower prices of coal and copper.

On an adjusted basis, the company earned C$227 million ($207 million), or 40 Canadian cents per share, in the fourth quarter. This compared to an adjusted profit of C$409 million, or 70 Canadian cents per share, a year earlier.

Revenue fell 11 percent to C$2.38 billion in the quarter ended Dec 31.

Earnings attributable to shareholders rose to C$232 million, or 40 Canadian cents per share, from C$200 million, or 34 Canadian cents per share, a year earlier.

Vancouver-based Teck produces coal, copper and zinc at mines throughout the Americas, and also has energy holdings in Canada's tar sands.