Swiss-based Glencore International (LSE: GLEN) posted income before significant items of US$4.06bn in 2011, an increase of 7% on higher revenues, metal prices and output, according to the company's preliminary results.
Revenues soared 28% to US$186bn from US$145bn, cash generated by operating activities before working capital changes decreased 3% to US$4.10bn from US$4.23bn and adjusted Ebitda jumped 4% to US$6.46bn compared with US$6.20bn, Glencore said.
Income attributable to equity holders more than tripled to US$4.05bn from US$1.29bn in 2010.
Total revenues from the metals and mining segment rose to US$52bn from US$45.2bn due to higher average realized zinc, copper, lead, gold, alumina, aluminum, nickel and iron ore prices.
One of the world's largest traders of commodities and raw materials, Glencore owns 34.5% of compatriot resource group Xstrata (LSE: XTA) with which it has agreed a "merger of equals." The operation is pending approval from the companies' shareholders.
In Latin America, Glencore has assets in Argentina, Bolivia, Colombia and Peru.
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