Afarak blames lower ferro-chrome prices for €7.5mln Q1 loss

Afarak reported a weaker performance for the first quarter of 2019 than a year earlier, citing lower ferro-chrome prices among "adverse business conditions."

The London- and Helsinki-listed mining and metallurgical group, which owns South African ferro-chrome producer Mogale Alloys, reported a loss of €7.5 million ($8.24 million) on Friday May 17 compared with €1.9 million in the first quarter of 2018. Revenue also dropped by 17.7% year on year to €41.3 million due to lower prices and sales volumes. The group...


Janie Davies

May 20, 2019

10:19 GMT