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.
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Does anyone know if PIC invested in them?