July 25, 2012 / 12:19 PM / 5 years ago

Sherritt reports lower Q2 profit on nickel price, coal volume

July 25 (Reuters) - Canada’s Sherritt International Corp said on Wednesday its second-quarter profit fell 32 percent on lower nickel prices and lower export thermal coal sales volumes.

The nickel miner earned C$40.8 million, or 14 Canadian cents a share, in the quarter. That compared with C$60.1 million, or 20 Canadian cents a share, in the year-earlier period.

Analysts, on average, had expected profit of 13 Canadian cents a share, according to Thomson Reuters I/B/E/S.

Revenue fell slightly to C$487.9 million. Analysts had expected revenue of C$491.5 million.

Sherritt produces nickel in Canada, Cuba, Indonesia and Madagascar. The company also mines coal and is the largest independent energy producer in Cuba.

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