Quotations of Ferrexpo shares keep falling for 8th week in a row

In the period of March 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 6.2% or GBP 0.029 per share to GBP 0.437 per share, falling for the eighth 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 25, the shares of the company were quoted at the level of GBP 0.466 per share; on March 26, they decreased to GBP 0.437 per share; and on March 27, they further fell to GBP 0.432 per share.

But on March 28, the share quotations increased to GBP 0.437 per share.

No share trading was held on March 29.

The transactions were being conducted throughout the week.

Since the start of the year, the company's share quotations have decreased by 51.6% (compared to the level of quotations on December 29, 2023 - GBP 0.903).

As Ukrainian News Agency earlier reported, in the period of March 18-22, 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 12.7% or GBP 0.063 per share to GBP 0.432 per share, falling for the seventh 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.