Quotations of Ferrexpo shares drop after 2-week growth, down 3.1% to GBP 0.762 per share September 25-29

In the period of September 25-29, the quotations of shares of Ferrexpo plc (United Kingdom), which controls Poltava Mining and Yeristovo Mining (both located in Horishni Plavni, Poltava region), at the London Stock Exchange decreased by 3.1% or GBP 0.024 per share to GBP 0.762 per share, falling after a two-week increase.

That follows from the data posted at the London Stock Exchange, Ukrainian News Agency reports.

According to the report, on September 25, the shares of the company were quoted at the level of GBP 0.786 per share; on September 26, they decreased to GBP 0.762 per share; but on September 27, they decreased to GBP 0.782 per share.

On September 28, the share quotations decreased to GBP 0.752 per share; but on September 29, they increased to GBP 0.762 per share.

The transactions were being conducted during the whole week.

Since the start of the year, the company's shares' quotations have decreased by 51.5% (compared to the level of quotations on December 30, 2022 - GBP 1.572).

As Ukrainian News Agency earlier reported, in the period of September 18-22, the quotations of shares of Ferrexpo plc  at the London Stock Exchange increased by 0.6% or GBP 0.005 per share to GBP 0.781 per share, continuing to grow for the second week in a row.

In the period of December 31, 2021 - December 31, 2022, the quotations of shares of Ferrexpo plc at the London Stock Exchange fell by 47.5% or GBP 1.422 per share to GBP 1.572 per share.

In the first six months of 2023, Ferrexpo plc decreased its profit three times, or by USD 55.1 million, to USD 27 million, reducing earnings 2.8 times, or by USD 601.9 million, to USD 334 million year over year.

In the first six months of 2023, the company reduced EBITDA (Earnings before Taxes, Interest, and Depreciation) 7.6 times or by USD 422 million year over year to USD 64 million, reflecting rising costs mainly due to lower output, rising global inflation and energy prices.

Capital investment in the 1st half of the year decreased by 43% to USD 58 million.

Kostiantyn Zhevaho is the majority shareholder of Ferrexpo.