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Noble Group Sees First Loss in 20 Years Due to Low Coal Prices
Feb. 23, 2016 02:39PM PST
Industrial MetalsThe BBC reported that commodities trader Noble Group is looking at its first full year loss in nearly 20 years, largely due to low coal prices.
The BBC reported that commodities trader Noble Group is looking at its first full year loss in nearly 20 years, largely due to low coal prices.
As quoted in the publication:
The firm issued a profit warning on Tuesday, saying it expects $1.2bn in asset impairment charges as coal prices remain at “lower levels for an extended period of time”.
It also expects to book a loss from the sale of its agricultural unit.
Noble reports its annual results on Thursday.