Teck posts record income despite Trail woes
Oct 25, 2005 | 12:48 PM
| David Brooks
Higher prices for copper and zinc contributed to Teck Cominco Ltd.'s record net income of Canadian $405 million ($344 million) in the third quarter, more than triple the C$120 million reported in the same period last year.
TECK COMINCO LTD.(in thousands except per share) 200520043rd qtr. ended Sept. 30Net sales$1,150,000$925,000Net income$405,000$120,000Per share1.880.579 months ended Sept. 30Net sales$3,072,000$2,377,000Net income$835,000$332,000Per share3.881.60In Canadian dollars.The company said its average realized prices, including settlement adjustments, were $1.95 a pound for copper and 61 cents a pound for zinc vs. $1.46 and 45 cents, respectively, a year earlier. Additionally, realized molybdenum prices averaged $23 a pound compared with $16 a year earlier, which the Vancouver, British Columbia,-based company said "contributed significantly" to operating profits at Highland Valley Copper....
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