Word: coppers
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...world's largest copper producer, Anaconda Co. has enjoyed unprecedented prosperity over the past three years, thanks in large part to worldwide industrial expansion and the quickened demands of the Viet Nam war. But copper people know only too well that theirs is an uncommonly volatile industry, in which good times are never to be taken for granted. In view of that, it was a sign of unusual optimism last week when Anaconda's directors voted a two-for-one stock split and put dividends on a regular quarterly basis...
...large part, of course, those actions reflected Anaconda's pretty profit picture. Controlling 40% of the world's reserves at a time when copper prices have soared, the company last year registered a staggering 67% earnings gain to $132 million on sales of $1.2 billion. Even more important, the company is taking vigorous steps to meet some of its potential problems...
...Anaconda prospered on high world copper prices and swelling U.S. demand. Through a nearly strike-free year, the company's sales surged to ten figures ($1.2 billion) for the first time, while earnings swelled by 67% to $132 million. In the fourth quarter, profits rose 116% over the same period...
...yearlong rise in gasoline prices may make the current boost less defensible in the Administration's eye than the recent increases pushed through by copper, steel and aluminum producers. A fact to remember, however, is that even at the new levels motorists would be paying about the same for gasoline as they did ten years ago had not federal and local taxes, now an average 10½? a gallon, grown by 15% in that time...
...important reversal" in orders for its once slow-moving 2400 copier, earnings outraced increasing costs. Though the year-long gain was nothing like 1965's 47% leap, Wilson seemed almost embarrassed. Some time in the future, he warned, "our percentage rate of growth must, of course, diminish." - Kennecott Copper, one of the three biggest U.S. copper producers, turned a first-half slump resulting from strikes in Chile into a booming year with profits up 22%, to $125 million. Thanks to heavy Pentagon orders and higher prices abroad, Kennecott is well polished for its upcoming $466 million merger with another...