5N Plus records half-year loss on weak commodity prices

Speciality metals firm 5N Plus has posted a net loss of $22.4 million for the first half of 2015, falling from a profit of $9 million a year earlier, as its operations were negatively impacted by falling commodities prices.

The company booked a net loss of $20.5 million for the three months to June 30 2015, compared with earnings of $4.4 million in the June quarter of 2014.
“The overall financial performance of the company remains very disappointing…as relentless erosion in underlying commodity prices...continues to weigh on our results,” 5N Plus president and ceo Jacques L’Ecuyer said in a statement.
“We expect this situation to change significantly as soon as prices find a floor,” he added.

5N Plus's second-quarter loss of $20.5 million was aggravated by the accelerated amortisation of intangible...

Published

Charlotte Radford

August 11, 2015

11:52 GMT

London