• SA is being scammed!

    Former struggle heroes are now emptying state coffers to benefit foreign scammers, says Solly Moeng.

  • A burning issue

    The Knysna fires have shown that SA needs to be fire-aware and wary, says Mandi Smallhorne.

  • True economic freedom

    Harping on inequality and repressive rich people deflects attention from the real issues, say analysts.

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 5
Change 0
% Change 0
Cumulative volume 315144
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

ArcelorMittal SA ordered to stop ops

Amsa shares near 7-year lows

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

Behind the sparkle

2017-06-06 10:23

 
 
 

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
Comments have been closed for this article.
 

Company Snapshot

Money Clinic

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

Voting Booth

WhatsApp group admins in SA could face jail time their jobs

Previous results · Suggest a vote

Loading...