Glencore Completes Turnaround as Profit Soars on Trading
- Shares doubled in the past year as market regained confidence
- Glencore has returned to M&A with recent Congo, Rosneft deals
Glencore Signals End of Turnaround as Profit Soars 48%
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Glencore Plc signaled the end of a business turnaround with annual profit rising 48 percent on higher commodity prices and strong trading results.
The commodity trader and miner headed by billionaire Ivan Glasenberg reported earnings that topped analysts estimates and delivered the best trading results since the commodities supercycle peak in 2008. Glencore also said it may consider paying a special dividend this year.