ENRC Posts Annual Net Loss

Eurasian Natural Resources Corp PLC EURNY posted an annual net loss. ENRC posted a net loss of $804 million for the year, versus a year-ago net profit of $1.97 billion. However, analysts were expecting a net profit of $620 million. Its net sales dropped 18% to $6.32 billion, while underlying earnings before interest, taxes and depreciation and amortization declined 45% to $1.89 billion. ENRC shares closed at $2.43 yesterday.