Posted AT 9:19 AM EST on 28/10/09
Sherritt shares tumble on weak results
Toronto — Sherritt International Corp. said lower commodity prices and the loss of an oilfield in Cuba sent its third-quarter profit down 58 per cent to $55.9-million.The diversified resource company said Wednesday its profit amounted to 19 cents per share in the third quarter, down from $133.1-million or 45 cents per share a year earlier. Sherritt's revenue fell to $389.6-million from $478.3-million in the third quarter of 2008.
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