Norilsk Beats Nickel Earning Forecast
OAO GMK Norilsk Nickel has posted a higher than expected earnings for the first quarter yesterday. The company’s sales fell 27% to $10.2bn. Its net income was $2.65 billion as compared with a $555 million loss in 2008.
The Norilsk’s biggest revenue generator is nickel. This metal was the best-performing commodity in 2009 which has beaten 23 other futures in the Standard & Poor’s GSCI index, with a gain of 61%.
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Wed, May 19, 2010
Post by Mike Rodger, Nickel Reporter