Xstrata sees decline in first half profit

Tuesday, 07 August 2012 15:23:55 (GMT+3)   |  
       

Australian coal producer Xstrata has issued its financial results for the first half of 2012, reporting a strong performance despite the cyclical downturn in commodity prices and ongoing cost inflation.

In the first six months of 2012, the attributable profit of Xstrata was $1.94 billion, recording a decrease of 33 percent, while its revenue saw a decrease of seven percent to $15.55 billion, both year on year.

In the given period, the company's operating profit amounted to $2.45 billion, decreasing by 42 percent compared to the corresponding period of the previous year.

Xstrata's total consolidated coal production in the first half of the current year increased by 12 percent year on year to 43.4 million mt, with higher second quarter thermal and coking coal volumes than in the first quarter. The company stated that the improvement in second quarter volumes provides good momentum for stronger second half production as new projects are progressively commissioned.


Similar articles

Local coke prices in China rise, second round of increases awaited

19 Apr | Scrap & Raw Materials

Coal exports from Queensland up 0.1 percent in March from February

19 Apr | Steel News

India’s coking coal import traffic at ports up 10% in FY 2023-24

18 Apr | Steel News

Ex-Australia coking coal prices increase $25/mt amid better steel market in Asia

17 Apr | Scrap & Raw Materials

Turkey’s coking coal imports increase by 47.9 percent in January-February

15 Apr | Steel News

MOC: Average steel prices in China down slightly during April 1-7

11 Apr | Steel News

Australia’s Stanmore to wholly own Eagle Downs coking coal project

09 Apr | Steel News

Ex-Australia coking coal prices retreat further

05 Apr | Scrap & Raw Materials

Australia expects fall in metallurgical coal prices in 2024

04 Apr | Steel News

Local coke prices in China fall further amid low demand

29 Mar | Scrap & Raw Materials