Glencore Benefiting From Elevated Coal Prices; GBX 250 FVE Unchanged
Glencore’s 2018 net profit after tax fell 41% to USD 3.4 billion, or USD 0.24 per share. Several significant items detracted by USD 2.4 billion in total. The main expense was USD 1.6 billion of impairments relating to the Mutanda and Mopani copper assets in Africa. Glencore cited increased costs and regulatory and operational challenges as the drivers. In part, the impairments reflect Glencore’s exposure to higher-risk locales. Net of significant items, adjusted net profit rose 5% to USD 5.8 bil...Glencore is engaged as a natural resource companies. Co. is organized and operates on a worldwide basis in three main business segments: Metals and minerals, which comprised of zinc, copper, lead, alumina, aluminium, ferroalloys, nickel, cobalt and iron ore; Energy products, which comprised of crude oil, oil products, steam coal and metallurgical coal; and Agricultural products, which comprised of wheat, corn, canola, barley, rice, oil seeds, meals, edible oils, biofuels, cotton and sugar supported by investments in storage, handling, processing and port facilities.
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