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ArcelorMittalSA shares at six-month high on H1 profit

The company says it swung back to a ‘modest profit’.
Arcelor Mittal shares quicken to a six-month high. Picture: Vladimir Weiss, Bloomberg

ArcelorMittal’s South Africa unit shares surge nearly 17% to R3.74, it’s highest since January 31.

The company said on Wednesday it swung back to a modest profit in the first half of the financial year, boosted by higher steel prices and upbeat sale volumes.

Diluted headline earnings per share (Heps) for the six months ended 30 June, 2018, was 5 cents per share compared with a loss of 148 cents per share a year ago. 

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