Sprott’s Q2 profit plummets 90% from 2011

Sprott Inc.’s Q2 profit has fallen dramatically since the same time last year.

Net income was $700,000, or $0.00 per share, for the three months ended June 30, 2012. That’s a sharp decrease of 90.2% from $7.5 million ($0.04 per share) in Q2 2011.

Its AUM fell 9% to $8.5 billion and its EBITDA fell 56% to $6.4 million.

Read: Sprott buys Flatiron Capital Management

In an interview with BNN, Sprott Inc. CEO Peter Grosskopf said he will not alter the company’s investment strategy. “I’m confident that after two half-years of pretty serious price corrections we’re long overdue for a significant rebound, and we think our performance will rebound accordingly,” he told BNN.

The company declared a dividend of $0.03 per common share this month.

Read: Sprott launches two new funds

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