CVRD issues record Q2 profit

Thursday, 02 August 2007 16:32:41 (GMT+3)   |  
       

Brazilian mining giant Companhia Vale do Rio Doce (CVRD) has announced that its Q2 2007 net profit rose by 50 percent year on year to BRL 5.8 billion ($3.1 billion), up from BRL 3.9 billion ($2 billion) a year ago, as a result of higher nickel prices and output.

The company has also reported that its Q2 revenue jumped by 80 percent year on year to BRL 18.2 billion ($9.7 billion), while its EBITDA rose to BRL 10.3 billion ($5.5 billion), marking an increase of 99 percent.

CVRD's consolidated exports rose by 54 percent year on year to a record $3.9 billion.


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