Glencore reports profit increase in 2011
2012-03-05 15:29:40
Commodities giant Glencore International PLC says it full-year profit rose seven per cent in 2011 to $US4.06 billion ($A3.79 billion).
The Swiss-based company benefited from rising prices for key raw materials and steadily growing demand in developing countries.
Glencore reported a profit of $3.8 billion for the full year 2010.
The company said in a statement on Monday that income attributable to shareholders was $4.05 billion last year.
Glencore, which received a $10 billion cash injection with its partial IPO last May, is seeking to merge with Anglo-Swiss mining group Xstrata PLC later this year.