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October 26, 2010
ArcelorMittal SA's Q3 earnings decline sharply on lower sales, prices
Steel group ArcelorMittal South Africa (Mittal) reported a sharp slump in earnings for the three months to September 30, 2010, when compared with the June quarter - a decline which the company attributed to a sharp rise in raw material prices, a worse-than-expected slowdown in steel demand and the sustained strengthening of the rand.
The company had warned in July that its third-quarter earnings would be lower, but the extent of the fall was worse than anticipated.
Posted by StaffWriter at October 26, 2010 9:46 AM