MDU Resources Group profits in second quarter down more than 11 percent from previous year

MDU Resources Group profits down in 2Q

BISMARCK, N.D. — MDU Resources Group Inc. says its second-quarter profit dropped 11.4 percent from the previous year.

In the three months that ended June 30, the Bismarck-based energy, mining and construction company earned $48.3 million, or 26 cents per share, compared with $51.1 million, or 30 cents per share, during the same period a year earlier.

MDU says revenue for the second quarter was $906.4 million compared with $958 million for the same quarter in 2009.

The company attributed much of the decline in earnings to its construction materials and contracting group. MDU says a struggling economy and weather-related delays dropped second quarter earnings in that segment by $10.3 million from the same period last year.