Glencore’s hot seat proved to be more of a warm embrace for its new, SA-born CEO Gary Nagle on Thursday when he presented a strong set of results on the back of roaring commodity prices, which spurred the resources group’s interim earnings to record highs and saw shareholders rewarded with $2.8bn in returns.
For the half-year ended in June, Glencore posted a record $8.7bn in adjusted earnings before interest, tax, depreciation and amortisation , marking a 79% increase from $4.8bn in the first half of 2020. Cash generation was also strong, with funds from operations almost doubling to $7.3bn. Strong free cash flows allowed the company to deleverage its balance sheet quicker than expected, with net debt dropping from $15.8bn in December to $10.
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Source: TimesLIVE - 🏆 28. / 59 Read more »
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Source: SowetanLIVE - 🏆 13. / 63 Read more »
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Source: TimesLIVE - 🏆 28. / 59 Read more »
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Ex-Cricket SA CEO Moroe tells how deserving coach Toyana 'was snubbed in favour of Gibson'Former Cricket South Africa (CSA) CEO Thabang Moroe has given a witness account of how erstwhile Proteas coach Ottis Gibson’s skin colour was allegedly used by powerful figures within the organisation to block the appointment of a more deserving Geoffrey Toyana as the national team coach to fill a vacancy left by Russell Domingo.
Source: TimesLIVE - 🏆 28. / 59 Read more »
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