Steel producer ArcelorMittal South Africa’s (AMSA’s) share price on the JSE rose by more than 18% on January 25 after the company reported that it expects to report a significant improvement in earnings for 2021.
AMSA expects to report earnings a share of between R5.80 and R6.10 for the year ended December 31, compared with a loss a share of R1.80 for 2020.
Headline earnings a share are expected to be between R6 and R6.30, compared with a headline loss a share of R1.90 in 2020.
The company’s preliminary reviewed condensed consolidated financial statements for the period will be released on February 10.