Ailing steel producer ArcelorMittal SA shares rocket as it eyes return to profit

The original article can be found here.

Article highlights:

  • Shares in ArcelorMittal South Africa (Amsa) rocketed nearly 18 percent by 3.30pm on 25 January after the ailing steel producer said it expected to return to profit in the year to December 31, 2021.
  • Headline earnings per share were expected to improve from R1.90 headline loss per share for the comparative period to a headline profit per share within a range of R6 and R6.30 per share.
  • It expected its annual results to be out on February 10.