LOSS PER SHARE DOWN
ArcelorMittal SA slowly moving out of the red
Expected fall in loss per share should provide a small dose of relief for long-suffering shareholders
ArcelorMittal SA, the country’s largest steel maker, says its loss per share in the year to December 2016 is expected to fall by up to 80%. This should provide a small dose of relief for long-suffering shareholders after the company recorded a record loss of R8.6bn in financial 2015. The group produces about 80% of SA’s steel. The company, which is in a closed period, says more information will be given during its annual results presentation in Johannesburg on Friday. It says the loss in 2016 is expected to fall from R21.52c a share to a loss within a range of R4.38c and R4.48c per share. Higher steel prices and cost improvements have helped bolster the results. "The headline loss per share is … expected to decrease from 1,338c to a headline loss per share within a range of 239c and 249c a share," the group said on Monday. This was an 82% and 81% change, respectively. The improvement was primarily due to nonrecurrence of one-off items in 2015 totalling R2.56bn, the company said. The...
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