Chile’s CAP SA higher 2011 earnings despite revenue drop

Friday, 03 February 2012 01:33:45 (GMT+2)

Santiago, Chile-based integrated steel and iron ore producer CAP SA announced Thursday that its net revenue for 2011 fell 25 percent to US$441.66 million. CAP SA's sales during 2011 increased to US2.79 billion--a 40 percent increase over 2010. Its net income rose 60 percent to US$1.18 billion on the year.

Iron ore shipments for CAP increased in 2011 by 12.3 percent to a record 11.5 million tons, with the average price of the shipments rising 26 percent to US$153.40 per ton.  

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