Glencore takes $5.8 billion of charges, 2015 profit down 32%

Group adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) totalled USD 8.7 billion, Glencore said, in line with analysts' expectations.

March 01, 2016 / 14:28 IST

Miner and commodity trader Glencore reported USD 5.8 billion of charges on Tuesday, mostly due to impairments following a slide in commodity prices, and a 32 percent fall in 2015 core profit.

Group adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) totalled USD 8.7 billion, Glencore said, in line with analysts' expectations.

Glencore also said in a statement it was confident of achieving USD 4-5 billion of asset disposals during the rest of 2016.

first published: Mar 1, 2016 01:57 pm

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