During the first half of 1988, Cominco Ltd. (TSE) earned $78.5 million (91 cents a share) before including an extraordinary gain of $1.7 million, as compared with a profit of $25.9 million (24 cents a share) before including an extraordinary gain of $17.0 million for the comparable period last year.
The company attributed a $123.2 million increase in sales revenue for the period to higher prices for metals and potash, together with greater refined metal sales volumes.
Total debt at June 30 stood at $375.5 million, $162.3 million below the comparable level last year. The company borrowed $52.1 million for the Red Dog Mine project, and reports working capital at June 30 of $402.9 million.
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