The impact of extreme market difficulties was evident in Vedanta Resources’ FY16 (March-ending) results. While the company achieved record production in most commodities, lower prices (most severe in oil – down 44%) led to a 17% correction in full-year sales to $10.7bn. The impact of pricing pressure was more acute in H2 with the top-line correcting 22%. Similar to other miners, profitability slumped to record lows, with adjusted EBIT of $303m (-57%) and $881m (-49%) in H2 and FY1
13 May 2016
Another weak full-year performance
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Another weak full-year performance
Vedanta Resources (VED:LON) | 0 0 0.1% | Mkt Cap: 2,059m
- Published:
13 May 2016 -
Author:
Varun Sikka -
Pages:
3
The impact of extreme market difficulties was evident in Vedanta Resources’ FY16 (March-ending) results. While the company achieved record production in most commodities, lower prices (most severe in oil – down 44%) led to a 17% correction in full-year sales to $10.7bn. The impact of pricing pressure was more acute in H2 with the top-line correcting 22%. Similar to other miners, profitability slumped to record lows, with adjusted EBIT of $303m (-57%) and $881m (-49%) in H2 and FY1