Conwest, Faraday, MRI report healthy earnings

Three related companies in the energy and mineral resources industries reported healthy profits for 1987.

Conwest Exploration (TSE) recorded net income of $33.9 million ($3.01 per share) compared with $9.6 million (75 cents per share) for 1986. Conwest’s major shareholder, Toronto-based Faraday Resources, had net income of $10.9 million ($1.68 per share) compared with $1.9 million (42 cents per share) the year before. And Mineral Resources International (TSE), of which Conwest is the major shareholder, reported net income of $6.2 million (33 cents per share) compared with $3.9 million (25 cents per share) the year before.