• Inside Labour

    Without radical policy change SA's social fabric will continue to fray, says Terry Bell.

  • Long live your gadget

    Real gadget protection tends to cost real money, writes Arthur Goldstuck.

  • Taking SA for a ride

    The ANC seems to think all South Africans are idiots, says Mzwandile Jacks.

Data provided by iNet BFA
Loading...
See More

ArcelorMittal SA posts earnings loss

Oct 31 2012 09:29 Reuters

Company Data

ARCELORMITTAL SOUTH AFRICA LIMITED [JSE:ACL]

Last traded 39.50
Change -0.5
% Change -0.01
Cumulative volume 66654
Market cap 17.61bn

Last Updated: 29/08/2014 at 01:27. 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

Implats mulls mechanisation

2014-08-29 06:00

 
 
 

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

“Hippie sense makes business sense,” an entrepreneur said, adding that "purpose" was core to success.
 

Money Clinic

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