Norilsk Nickel Fails To Meet Analysts’ Expectations

Bloomberg reported OAO Norilsk Nickel (LSE:MNOD) reported 2011 profit below analyst estimates on higher production costs and a loss from discontinued operations.

As quoted in the market news:

Net income was $3.6 billion compared with $3.3 billion a year earlier, Norilsk said today on its website. Excluding a $560 million loss on the disposal of utility OAO OGK-3, profit would be $4.18 billion, it said. That’s less than the $4.67 billion median estimate of 12 analysts in a Bloomberg survey.

Click here to read the full Bloomberg report.