Norilsk’s profit drops to 2009 levels

MOSCOW: GMK Norilsk Nickel PJSC, which rivals Vale SA as the world’s biggest nickel producer, posted the lowest profit since 2009 for last year after prices of the metal plunged.

Earnings before interest, taxes, depreciation and amortisation dropped 24% to US$4.3bil in 2015 from a year earlier, Norilsk said in a statement. That was in line with the average estimate for US$4.37bil by 12 analysts surveyed by Bloomberg.