Glencore 1st Half Net Profit Rises 13% on Commodity Price Growth
08 Agosto 2018 - 4:03AM
Dow Jones News
By Oliver Griffin
Glencore PLC (GLEN.LN) said on Wednesday that its net profit for
the first half of the year rose 13% due to the impact of rising
commodity prices and in spite of a range of issues that had dented
its share price in recent months.
The Anglo-Swiss mining company and commodities trader said that
profit for the six months ended June 30 rose to $2.78 billion from
$2.45 billion in the first-half of 2017.
Adjusted earnings before interest, taxes, depreciation and
amortization--a key metric for the company, which strips out
exceptional items--rose 23% to $8.27 billion, a company record,
Glencore said.
The mining company has endured a difficult first half in 2018.
In the Congo in the spring, it faced legal action over a capital
shortfall in its business there, before billionaire Dan
Gertler--who was named in U.S. sanctions at the start of the
year--launched a separate suit in the Congolese courts, seeking $3
billion in damages over a royalties dispute. Most recently, the
company's shares fell after it received a subpoena from the U.S.
Department of Justice relating to its compliance with money
laundering laws.
Chief Executive Ivan Glasenberg said that while the market
outlook is likely to remain volatile, Glencore remains "highly
confident" in the strength of its underlying business.
The company said that revenue for the first half of the year
rose 8.2% to $108.6 billion, while net debt fell 16% to $9 billion,
from $10.7 billion at Dec. 31.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
August 08, 2018 02:48 ET (06:48 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Glencore (PK) (USOTC:GLNCY)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Glencore (PK) (USOTC:GLNCY)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024
Notícias em tempo-real sobre Glencore Plc (PK) da OTCMarkets bolsa de valores: 0 artigos recentes
Mais Notícias de Glencore (PC)