Steel producer ArcelorMittal expects to end its three-year profit drought with earnings per share of between R5.80 and R6.10 for the full year to December 2022, according to a Sens announcement released on Tuesday . “The headline earnings per share are expected to improve from R1.90 headline loss per share for the comparative period to a headline profit per share within a range of R6.00 and R6.30 per share for the period ,” says the Sens announcement.
Turnaround efforts In 2018, ArcelorMittal announced sweeping initiatives to return the group to profitability and generate sustainable positive cash flows. Evidence of this transformation started to appear in the results for the year to December 2019, when its internal business transformation programme yielded R1.5 billion in benefits – a feat that was matched in 2020. Global steel production remained flat in 2020 at about 1.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.