August 08, 2022

Breaking News

Glencore Profit Doubles on Energy-Market Volatility

Glencore Profit Doubles on Energy-Market Volatility

Commodities giant Glencore PLC said profit more than doubled in the first six months of the year, boosted by significant market volatility stirred up by macroeconomic and geopolitical events—a theme it expects to continue for markets through the rest of 2022.

The mining and trading company on Thursday reported a jump in first half adjusted earnings before interest, taxes, depreciation and amortization—a closely watched figure—to a record $18.92 billion, up from $8.65 billion in the same period last year. Net profit for the six months ended June 30 was $12.09 billion, up from $1.28 billion last year.

Doonited Affiliated: Syndicate News Hunt

Source link

Read Also  Bank of England Makes Biggest Rate Rise Since 1995 as Inflation Soars

Related posts

Leave a Reply

%d bloggers like this: