• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
Loading...
See More

ArcelorMittal SA posts earnings loss

Oct 31 2012 09:29 Reuters

Company Data

ARCELORMITTAL SOUTH AFRICA LIMITED [JSE:ACL]

Last traded 38.09
Change -0.76
% Change -0.02
Cumulative volume 825404
Market cap 16.98bn

Last Updated: 24/04/2014 at 04:24. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

ArcelorMittal SA ordered to stop ops

Amsa shares near 7-year lows

Amsa boosts first-quarter profit

Amsa shares knocked by state snub, fine

Amsa in line for price-fixing fine

Price drop hammers ArcelorMittal SA

 

Johannesburg - ArcelorMittal South Africa [JSE:ACL], a unit of the world’s top steelmaker, posted a third-quarter headline loss on Wednesday and expects an even worse fourth quarter due to lower domestic demand and production losses.

Africa’s biggest steelmaker reported a headline loss per share of 42 cents, compared with a headline loss of 115 cents the previous year and 44 cents in the preceding three months.

“Domestic steel demand remained weak, especially from the building and construction industry, the main steel consuming sector in South Africa,” the company said in a statement.

Revenue fell 12% to R7.6bn.

The company said the fourth quarter loss would be “substantially” higher than in the previous three months due to a seasonal drop in demand during December and production losses following extended blast furnace repairs at its Newcastle plant.

The impact would be partially offset by lower prices for raw materials such as coal and pellets as well as a weaker rand-dollar exchange rate.

The company declared no dividend.

Shares opened more than 2% lower on the Johannesburg bourse on Wednesday. Shares in the company are down nearly 50% in the year to date, compared with a 15.7% rise in the JSE All Share [JSE:J203] index.

 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

arcelormittal sa  |  mining
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

The rich will pay - Mpofu

The EFF in Gauteng will focus all its energy on improving the lives of the poor, the party's premier candidate Dali Mpofu says.

 
 

Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...