Steel producer ArcelorMittal South Africa is expecting to report a R650 million decrease in headline earnings for the six months ending June 30, as a result of a difficult trading environment in the country.
In a trading statement on Monday, AMSA said that this decrease would result in headline earnings per share declining by at least 59 cents, from five cents per share to a headline loss per share within a range of 53 and 63 cents per share.After admitting to a difficult trading environment earlier this month, AMSA said a decrease in international steel prices coupled with the increase in cost of electricity, rail transport and raw material had further contributed to these challenges.
Does anyone know if PIC invested in them?
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