Cominco earnings still on upswing

The company reported consolidated earnings of $141.3 million for the six months ended June 30, compared with a consolidated profit of $78.5 million (before an extraordinary gain of $1.7 million) for the comparable period last year.

After providing for dividends on preferred shares, earnings were $1.74 per common share compared with 91 cents per share before the extraordinary gain in the comparable period last year.

The Mining and Integrated Metals business segment had a pre-tax operating profit of $241.6 million compared with $150.9 million in the 1988 first half. Sales at $671.7 million were $94.5 million higher than for the same period last year.

Earnings for the 1989 second quarter were $70.8 million or 88 cents per common share on sales of $447.7 million. This compares with earnings of $46.6 million for the same quarter last year.

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