Glencore Earnings Tipped to Show Mining Profit Erosion: ChartBy
Glencore Plc’s reliance on trading commodities is growing as a rout in prices of those it produces such as copper, nickel, zinc, coal and oil erodes profit in its mining and drilling unit. The Swiss firm will on March 1 report a 72 percent slump in adjusted net income to $1.2 billion for 2015, according to analysts surveyed by Bloomberg. Citigroup Inc. sees adjusted earnings before interest and tax from the trading unit of $2.56 billion and a loss of $124 million in the industrial division.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.