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B.C.

Finning reports decline in Q4 profit to $93M; cites increase in income taxes

VANCOUVER – Finning International Inc. (TSX:FTT) has reported a 10 per cent decline in fourth-quarter net income, with the world’s largest Caterpillar dealer blaming the reversal largely on higher income taxes. Vancouver-based Finning says net income in the three months ended Dec. 31 was $93 million or 54 cents per share, down from $103 million or 60 cents in the same 2012 period. Revenue was $1.796 billion, up from $1.746 billion.

Eldorado Gold writes down assets, posts US$687.6-million loss in fourth quarter

VANCOUVER – Eldorado Gold Corp. (TSX:ELD) posted a US$687.6-million net loss for the fourth quarter, as it recognized lower values for its assets and felt the impact of reduced gold prices and output. The net loss amounted to 96 cents US per share, including the $684.6 million asset impairment item. Revenue during the three months ended Dec. 31 totalled $231.7 million, down from US$350 million in the fourth quarter of 2012.