COMMODITY giant Glencore which is expected to post its interims next week with bumper earnings anticipated, on Friday said in its half-year production report that its performance was strong, boosted by buoyant energy markets.
Glencore chief executive Gary Nagle said: “Our financial performance, both industrial and marketing, was very strong during the period, particularly on account of buoyant energy markets, which will be a feature in the release of next week’s half-year report.
“Allied with the strong results, particularly in marketing and mostly energy related, our net working capital has significantly increased during the period.
“This is in line with materially higher oil, gas, and coal prices, and their elevated market volatilities,” he said.
Glencore kept most of its full-year guidance the same, but cut its full-year copper…
