Glencore income down despite sales boost

Mar 06, 2013 | 12:39 PM | Shivani Singh

Tags  Xstrata, Glencore, results, earnings, revenue

SINGAPORE — Glencore International Plc posted a 73-percent decline in net income in 2012 as lower commodity prices outweighed gains in its marketing business.

The Baar, Switzerland-based company’s net income for the year ended Dec. 31 was $1.15 billion, down sharply from 2011’s $4.27 billion, even as revenues rose 15 percent to about $214.44 billion. ....

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