Norilsk 2012 net profit down 41pc

MOSCOW: Russia's Norilsk Nickel , the world's top nickel and palladium miner, said on Friday its 2012 net profit was down 41 percent, year-on-year, and missing forecast, due to write-offs and a decline in metals prices.

Norilsk said its net profit fell to $2.14 billion last year, impacted by $976 million non-cash write-offs. A poll of analysts had expected the company's net income to come in at $2.89 billion.

The company's 2012 revenue was also down, by 15 percent to $12.1 billion, while earnings before interest, taxation, depreciation and amortisation (EBITDA) decreased 32 percent to $4.9 billion, Norilsk said in a statement.