Xstrata PLC (LON: XTA) to push bearish trend in the bud as earnings up

Xstrata PLC crushes bears

In brief: Xstrata PLC (LON: XTA) reported on the growing profits. Xstrata shares gain in value since the start of trading.

Xstrata PLC (LON: XTA) continues to grow against the backdrop of recent reports on the company’s profits. Xstrata PLC shares are gaining in price +14.50 points (1.35%), reaching the mark of 1,089.50 points in early trading today.

Xstrata PLC (LON: XTA), the world’s largest exporter of thermal coal, said on a tripling of net profit for the first half of 2010 amid rising prices for their products. Swiss mining company’s net profit rose more than up to $ 2.28 billion from $ 690 million for the corresponding period a year earlier, to be published report of the company. Revenues in the reporting half-year increased by 42,5% and amounted to $ 13,6 billion against $ 9.54 billion a year earlier. Operating profit for the period totaled $ 3.23 billion, which is 2 times higher than in the first half of 2009

Igor Tringlers
2010-08-03 09:48, Economics.

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