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Teck Resources blames lower prices for lower Q4 profit of $227 million

VANCOUVER – Teck Resources Limited (TSX: TCK.B) blames lower prices for a lower adjusted fourth-quarter profit of $227 million, or 40 cents a share.

That’s down substantially from $409 million, or 70 cents a share, in the fourth quarter of 2012.

The Vancouver-based miner says prices for all of its key products were down compared to last year, resulting in lower profits and cash flows than in 2012.

For the year, Teck reported an annual adjusted profit of $1 billion, or $1.74 a share, compared with $1.8 billion, or $3.03 per share, in 2012.

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