February 11, 2011 / 12:28 PM / in 7 years

UPDATE 1-Katanga quarterly profit more than doubles

* Q4 net income $37.7 mln vs $15.3 mln year ago

* Q4 revenue up more than 50 pct to $150.7 mln (Figures in U.S. dollars)

TORONTO, Feb 11 (Reuters) - Katanga Mining KAT.TO said on Friday that fourth-quarter earnings more than doubled, on the back of increased copper and cobalt production from its mines in the Democratic Republic of Congo.

The Toronto-listed company said its profit rose to $37.7 million from $15.3 million a year earlier.

Including a noncash future income tax recovery, the junior miner said earnings were $214.3 million.

Quarterly revenue rose more than 50 percent to $150.7 million, driven by increased output and higher metal prices. (Reporting by Euan Rocha; Editing by Lisa Von Ahn)

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