Metals

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

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Glencore takes $5.8B of charges

Miner and commodity trader Glencore reported $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.


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

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

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