Brazil miner Vale reports Q1 net profit of $2.52 bln

miércoles 30 de abril de 2014 08:48 GYT

RIO DE JANEIRO, April 30 (Reuters) - Brazilian mining giant Vale SA said on Wednesday that first-quarter profit fell 19 percent from a year earlier to $2.52 billion after the average price of iron ore, its main product, fell by nearly a quarter in the same period.

Net sales, or total sales minus sales taxes, fell 11 percent to $9.50 billion. Earnings before interest, taxes, depreciation and amortization fell 22 percent to $4.06 billion, the company said in a securities filing. (Reporting by Jeb Blount and Walter Brandimarte)