Glencore’s coal earnings tumble; hedge losses weigh

摘要

Glencore’s coal operations suffered a heavy loss in the first half ofthis year, as revenue slumped and hedging losses piled up.A $501m loss was posted for overall coal earnings beforeinterest and tax (EBIT) – a sharp negative turnaround from a$92m profit in January-June 2015.The company’s Australian thermal division also extended its lossto $314m – expanding from a $39m loss in the first half of 2015.