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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
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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.

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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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