Magnesite, graphite, dolomite, talc, and refractories group Magnesita Refrátarios SA posted 2011 results showing annual improvements in operating cash flow, net income, and net revenues, but a 6.1% decline in gross profit.
The Brazil-based company reported a record operating cash flow of R$565.4m($318m), up 54.8% from 2010, a net income of R$98.6m ($55.4m), up 6.7% from 2010, and net revenues of R$2.3bn($1.29bn) in 2011, up 1.9% from 2010.
These figures were driven by a 6.8% growth in refractory volume, and sales in...