Petropavlovsk Enjoys Higher Profits on Increased Gold Prices

Bloomberg reported that Petropavlovsk (LSE:POG) was up on its announcement of a rise in profits due to higher gold prices.

As quoted in the market news:

Petropavlovsk climbed as much as 8.1 percent, the biggest intraday gain since Jan. 26, after saying 2011 net income increased to $230.9 million from $19.8 million. Earnings before interest, tax, depreciation and amortization totaled $597.1 million.

Click here to read the full Bloomberg report.