Mineral Resources share price crashes 14% on massive $800m loss
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The Mineral Resources Ltd (ASX: MIN) share price is being sold off on Wednesday.
In morning trade, the mining and mining services company’s shares are down 14% to a 52-week low of $26.30.
This follows the release of the company’s half year results after the market close on Tuesday.
Mineral Resources share price sinks on big loss
- Revenue down 9% to $2,290 million
- Underlying EBITDA down 55% to $302 million
- Underlying loss after tax of $196 million (down 200% from a profit of $196 million).
- Statutory loss after tax of $807 million
- Dividend suspended
What happened during the half?
For the six months ended 31 December, Mineral Resources posted a 9% decline in revenue to $2,290 million. This was driven by growth…
