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SHERRITT INTERNATIONAL POSTS NET EARNINGS OF $22.3 MLN.

AsiaPulse News

| May 01, 2001 | COPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(Full text of this release can be found at http://www.asianet.com.au)

TORONTO, April 30 /CNW-AsiaNet/ - Sherritt International Corporation today announced net earnings of $22.3 million or $0.23 per restricted voting share (share) for the first three months of 2001. Consolidated revenue for the first quarter of 2001 was $99.2 million compared with $111.9 million for the same period in 2000. The reduction in the Corporation's earnings from the record achieved in the prior year period largely reflects the lower contribution from the Metals business, as a result of lower nickel prices and higher energy costs, mitigated in part by higher financing income.

"Despite significant increases to the cost in energy at the nickel and cobalt refinery in Alberta, Sherritt International had a solid ...

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