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Lonmin's profit up 45 pct, but cutbacks to come

Lonmin PLC, the world's third largest platinum producer, said Tuesday it plans to cut output and jobs and halve its exploration expenditure to ride out a downturn in the market even as annual net profit rose 45 percent.

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Europe news: Lonmin's profit up 45 pct, but cutbacks to come

LONDON – Lonmin PLC, the world's third largest platinum producer, said Tuesday it plans to cut output and jobs and halve its exploration expenditure to ride out a downturn in the market even as annual net profit rose 45 percent. Lonmin, which

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Lonmin's profit up 45 pct, but cutbacks to come

Lonmin PLC, the world's third largest platinum producer, said Tuesday annual net profit rose 45 percent on high sales prices, but warned it would have to cut some production and jobs because platinum's market value has plummeted since its midyear high. The...

+Vote!

Lonmin's profit up 45 pct, but cutbacks to come

Lonmin PLC, the world's third largest platinum producer, said Tuesday annual net profit rose 45 percent on high sales prices, but warned it would have to cut some production and jobs because platinum's market value has plummeted since its midyear high.

+Vote!

Lonmin's profit up 45 pct, but cutbacks to come

Lonmin PLC, the world's third largest platinum producer, said Tuesday annual net profit rose 45 percent on high sales prices, but warned it would have to cut some production and jobs because platinum's market value has plummeted since its midyear high.

+Vote!

Lonmin's profit up 45 pct, but cutbacks to come

LONDON -- Lonmin PLC, the world's third largest platinum producer, said Tuesday annual net profit rose 45 percent on high sales prices, but warned it would have to cut some production and jobs because platinum's market value has plummeted since its midyear high.

+Vote!

Lonmin's profit up 45 pct, but cutbacks to come

Lonmin PLC, the world's third largest platinum producer, said Tuesday annual net profit rose 45 percent on high sales prices, but warned it would have to cut some production and jobs because platinum's market value has plummeted since its midyear high.

+Vote!

Lonmin's says annual profit up 45 percent, but announces cutbacks on falls in platinum prices

LONDON - Lonmin PLC, the world's third largest platinum producer, said Tuesday annual net profit rose 45 percent on high sales prices, but warned it would have to cut some production and jobs because platinum's market value has plummeted since its midyear high.

1Vote!

UPDATE 2-Lonmin to cut jobs on weak platinum demand -union

* Lonmin to lay off workers owing to drop in market demand

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Lonmin notifies trade unions of jobs cuts

Lonmin has notified trade unions that it be cutting jobs due to a drop in platinum demand.