ArcelorMittal South Africa annual profit falls 62% on lower steel prices

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 9 (Reuters) - ArcelorMittal South Africa's full-year profit declined by 62% due to weaker steel prices at a time when costs were driven up by significant price increases of key inputs such as coal, the company said on Thursday. The unit of global steel producer ArcelorMittal said its headline earnings per share (HEPS) - the main profit measure in South Africa - was 2.34 rand ($0.13) per share during the year to December 2022, down from 6.15 rand previously.
($1 = 17.7136 rand) (Reporting by Nelson Banya; Editing by Himani Sarkar)

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