Aurubis earnings slide 94% amid volatile copper pricing
Feb 14, 2013 | 12:24 PM
| Mark Burton
Tags
Aurubis,
net profits,
inventory valuation,
TC/RCs,
copper prices
LONDON — Copper producer Aurubis AG recorded a 94-percent year-on-year drop in net income to €10 million ($13.33 million) in its fiscal first quarter due to negative valuation effects on its process inventory, the company announced Feb. 14.
The Hamburg, Germany-based company posted revenues of €3.4 billion ($4.53 billion) for the three months ended Dec. 31, up 8 percent from the year-ago period.....
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