Glencore H1 Profit Rises - Quick Facts

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(RTTNews.com) - Glencore plc (GLCNF.PK, GLNCY.PK, GLEN.L) reported that its income before income taxes for the first half of 2018 rose to $3.72 billion from $2.87 billion in the prior-year period.

Net income attributable to equity holders of the parent was $2.78 billion or $0.19 per share, up from $2.45 billion or $0.17 per share in the same period last year.

The results for the latest period reflect strong performances from Glencore's Industrial and Marketing businesses.

Adjusted EBITDA for the period rose 23 percent to $8.27 billion from $6.74 billion last year. Adjusted EBIT surged to $5.12 billion from $3.80 billion a year ago. The increases were driven by higher commodity prices, offset by relatively contained cost inflation.

Revenue for the period grew to $108.55 billion from $100.29 billion in the previous year.

Looking ahead, Glencore noted that while the financial market outlook is likely to remain volatile, it remains highly confident in the strength of its underlying business.

At current spot prices, the company's business remains highly cash generative with illustrative annualized Adjusted EBITDA of some $17.7 billion.

Read the original article on RTTNews (http://www.rttnews.com/2924351/glencore-h1-profit-rises-quick-facts.aspx) 

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This article appears in: Stocks , World Markets , Technology , Oil
Referenced Symbols: GLCNF ,

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