Brunswick posts profit in 1987

Net earnings in 1987, before unusual items, of $11.8 million were recorded by Brunswick Mining and Smelting compared to a loss last year of $6.9 million. After unusual items, earnings in 1987 totalled $19.7 million compared to a loss of $6.9 million in 1986.

During the fourth quarter, net earnings were $7.8 million compared with $1.2 million for the same period in 1986. (Unusual items in 1987 refer to a gain of $7.9 million on the sale of investments.)

The company, a Noranda affiliate, says favorable market factors last year included higher prices for lead, silver and phosphate fertilizer. However, Brunswick says a higher average zinc price was offset by a stronger Canadian dollar and high smelting charges, netting the company the lowest return for zinc since 1978.