Afarak reports $1.14mln earnings deficit for 2018 amid lower ferro-chrome prices

Afarak has reported a €1 million ($1.14 million) earnings deficit for the full-year 2018, partly due to lower ferro-chrome prices and a weaker spot market for chrome ore.

The London and Helsinki-listed mining and metallurgical group reported negative earnings before interest, tax, depreciation and amortization (Ebitda) of €1 million for the full-year 2018, compared with a record €17 million in 2017. The results follow a profit warning and the announcement of a writedown of the group’s Mogale Alloys business in South Africa,...

Published

Janie Davies

February 25, 2019

14:00 GMT

London