{"id":12758,"date":"2012-07-25T13:31:53","date_gmt":"2012-07-25T11:31:53","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/update-1-lower-prices-demand-hit-arcelormittal-s-africa-earnings\/"},"modified":"2012-07-25T13:31:53","modified_gmt":"2012-07-25T11:31:53","slug":"update-1-lower-prices-demand-hit-arcelormittal-s-africa-earnings","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-lower-prices-demand-hit-arcelormittal-s-africa-earnings\/","title":{"rendered":"UPDATE 1-Lower prices, demand hit ArcelorMittal S.Africa earnings"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* H1 diluted headline EPS of 26 cents vs 166 cents<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Expects further reduction in third-quarter earnings<\/p>\n<p> (Adds details)<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, July 25<\/span> (Reuters) &#8211; ArcelorMittal South Africa<br \/>\n, a unit of the world&#8217;s top steelmaker,<br \/>\nreported an 84 percent drop in first-half earnings on Wednesday<br \/>\nhit by lower prices and soft demand and said it expects a<br \/>\nfurther reduction in the third quarter.<\/p>\n<p><span><\/span><\/p>\n<p>Africa&#8217;s biggest steelmaker said diluted headline earnings<br \/>\nper share for the six months to end-June totalled 26 cents<br \/>\ncompared with 166 cents in the same period last year.<\/p>\n<p><span><\/span><\/p>\n<p>Headline earnings are the main profit gauge in South Africa<br \/>\nand exclude certain one-off and non trading items.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Third quarter financial results are expected to extend the<br \/>\nheadline loss incurred in second quarter on the back of lower<br \/>\nsteel prices and a further decline in domestic demand,&#8221; the<br \/>\ncompany said in a statement.<\/p>\n<p><span><\/span><\/p>\n<p>The company, which sells 90 percent of its steel in Africa,<br \/>\nsaid revenue rose 7 percent to 17.8 billion rand ($2.1 billion).<\/p>\n<p><span><\/span><\/p>\n<p>It did not declared an interim dividend.<\/p>\n<p><span><\/span><\/p>\n<p>ArcelorMittal South Africa also said it was in talks with<br \/>\nKumba Iron Ore to extend an interim iron ore supply<br \/>\nagreement which expires on July 31.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* H1 diluted headline EPS of 26 cents vs 166 cents * Expects further reduction in third-quarter earnings (Adds details) JOHANNESBURG, July 25 (Reuters) &#8211; ArcelorMittal South Africa , a unit of the world&#8217;s top steelmaker, reported an 84 percent drop in first-half earnings on Wednesday hit by lower prices and soft demand and said [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12758","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12758"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12758\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}