Can ArcelorMittal SA's dramatic upswing be sustained?
The share price of the country’s largest steel producer has risen almost tenfold over the past year, but big questions still hang over its future prospects
13 February 2022 - 00:00
ArcelorMittal SA (Amsa), the country’s largest steel producer, has seen its share price increase almost tenfold over the past year as its fortunes improved dramatically.
The jump in the price from R1.94 a year ago to nearly tenfold by Friday's close, was justified this week with the company releasing its best set of annual results since 2008. Not only did it swing back into the black, reporting R6.8bn in headline earnings for the year ended December 2021 from a loss of R2.032bn previously, but it managed to slash net debt from R3.5bn to R1.3bn...
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