Outokumpu profits treble to €159m

Finnish metals group Outokumpu said yesterday that operating profit for the second quarter more than trebled to €159 million (£125 million) from €49 million a year ago, due to higher metal prices and consumption rising to an all-time high. Pre-exceptional profit at the company, which owns Europe's largest zinc mine, Tara in Co Meath, rose 287 per cent to €147 million from €38 million. Sales grew by 37 per cent to €964 million from €702 million.