Glencore says full-year results 'best ever'

  • Glencore Chief Executive Ivan Glasenberg in a statement said the performance was the company's "strongest on record, driven by our leading marketing and industrial asset businesses."

Glencore on Wednesday announced full-year overall adjusted profit of $14.76 billion, in line with expectations, and said its full-year marketing adjusted EBIT was $3 billion, above the range it flagged at the end of last year.

Chief Executive Ivan Glasenberg in a statement said the performance was the company's "strongest on record, driven by our leading marketing and industrial asset businesses."

A consensus of analysts compiled by Thomson Reuters I/B/E/S forecast EBITDA (earnings before interest, tax, depreciation and amortisation) of $14.67 billion.

Miner and trader Glencore in December in an update for investors said its 2017 marketing EBIT (earnings before interest and tax) would be at the top end of its previous guidance at $2.8 billion.