Coal miner Peabody's profit slumps

Mon Oct 22, 2012 8:12am EDT

Oct 22 (Reuters) - Coal miner Peabody Energy Corp, which has cut production targets in the face of weak demand and slumping prices, said third-quarter profit more than halved.

Peabody, which operates mines in the United States and Australia, said income from continuing operations fell to $122.9 million, or 46 cents per share, from $291.2 million, or $1.04 per share.

Revenue rose 6 percent to $2.1 billion.

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