Quotations of Ferrexpo shares keep falling for 6th week in a row, down 1.8% to GBP 0.505 per share March 11-15

In the period of March 11-15, 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 1.8% or GBP 0.009 per share to GBP 0.505 per share, falling for the fifth week in a row.

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

According to the report, on March 11, the shares of the company were quoted at the level of GBP 0.514 per share; on March 12, they increased to GBP 0.550 per share.

But on March 13, the share quotations decreased to GBP 0.528 per share; on March 14, they fell to GBP 0.516 per share; and on March 15, they further fell to GBP 0.505 per share.

The transactions were being conducted throughout the week.

Since the start of the year, the company's share quotations have decreased by 44.1% (compared to the level of quotations on December 29, 2023 - GBP 0.903).

As Ukrainian News Agency earlier reported, in the period of March 4-8, the quotations of shares of Ferrexpo plc at the London Stock Exchange decreased by 3.8% or GBP 0.028 per share to GBP 0.702 per share, falling for the fifth week in a row.

In the period of December 31, 2022 - December 31, 2023, the quotations of shares of Ferrexpo plc at the London Stock Exchange fell by 42.6% or GBP 0.669 per share to GBP 0.903 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.