YEAR-END: Teck reports record-breaking results

VANCOUVER - Teck Resources is coming off what may be its best year ever with unaudited year-end numbers breaking several records. Annual revenues in 2011 of $11.5 billion were up 25% from 2012. Gross profit, before depreciation and...

VANCOUVER - Teck Resources is coming off what may be its best year ever with unaudited year-end numbers breaking several records. Annual revenues in 2011 of $11.5 billion were up 25% from 2012. Gross profit, before depreciation and amortization, was $5.8 billion, up 30% from 2010. Annual profit attributable to shares was up 47% to $2.7 billion. Cash flow from operations, before working capital changes, was $4.6 billion, up 37%.

Such numbers were possible thanks to the copper and coal business segments. Annual copper production was 321,000 tonnes (a record) in 2011 up from 313,000 tonnes, in 2010. The company also moved a record amount of coal, 6.7 million tonnes in the fourth quarter. Teck expects that its focus on expanding copper and coal production will continue to have a positive impact on results.

A lengthy list of accomplishments during 2010 as well as unaudited results for individual business units are available in a press release dated Feb. 9, 2012, posted at Teck.com.

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