Vale Delivering More Profits on Reduced Costs: Corporate Brazil
Vale SA (VALE5) is poised to deliver its first quarterly profit increase in more than two years after costs declined and iron-ore prices beat analysts’ forecasts.
The world’s largest iron-ore producer on Nov. 6 will post third-quarter net income of $2.8 billion, data (VALE:US) compiled by Bloomberg show. That would be 70 percent more than a year earlier and the first increase since the second quarter of 2011. Vale’s 96 percent estimated increase in year-on-year earnings per share is the most among 14 global peers, according to Bloomberg Industries.
Read more at: http://www.businessweek.com/news/2013-11-04/vale-delivering-more-profits-on-reduced-costs-corporate-brazil
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