Noranda Income Fund's revenue falls 7.3%
Jul 25, 2012 | 03:18 PM
| Daniel Fitzgerald
NEW YORK Noranda Income Fund, the majority owner of Canadian Electrolytic Zinc Ltd. (CEZ), saw revenue slip 7.3 percent during the second quarter. And while higher zinc premiums buoyed the companys pre-tax earnings, that wasnt enough prevent a dive in the companys bottom-line results.
Earnings before income taxes stood at Canadian $11.9 million ($11.8 million) for the three months ended June 30, up 15 percent from C$10.4 million in the same 2011 quarter, which the company said was "mainly due to higher zinc sales volumes and zinc premiums, and lower finance costs."....
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