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Lower Coal Prices Cause Net Profit Drop for Mechel
Jun. 20, 2012 02:56PM PST
Industrial Metals InvestingBloomberg reported that Mechel’s (NYSE:MTL) net profit fell 29%, in part due to sliding coal prices.
Bloomberg reported that Mechel’s (NYSE:MTL) net profit fell 29%, in part due to sliding coal prices.
As quoted in the market news:
Net income declined to $218 million from $309 million a year earlier, Mechel said today in a statement. That beat the $125 million median estimate of five analysts surveyed by Bloomberg. Sales rose 0.5 percent to $2.95 billion.