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ArcelorMittal Publish Highest Profits In Over A Decade Says Findlay Nicolson

February 7, 2019

TAIPEI, Taiwan--(BUSINESS WIRE)--Feb 7, 2019--Taipei based wealth Management Company Findlay Nicolson has commented on ArcelorMittal, the world’s biggest steelmaker has just posted its highest profits in over a decade while still expecting global demand to keep rallying higher.

With a strong performance ArcelorMittal, a Luxembourg based company commented saying that results could have been even better as it only shipped a few tonnes light compared to the previous year in 2017.

However, researchers from Findlay Nicolson have said that the company had successfully posted earnings of $10.3 billion U.S. Dollars with a 22 percent increase year on year making it the most profitable year since 2009.

“The figures will only increase with more expectations of much higher demand and prices coming from emerging economies such as India and China,” commented David Archer, who is the Director of Institutional Trading at Findlay Nicolson.

Revenue had hit new highs of 10.7 percent which translates into over $76 billion U.S Dollars. With its increased profits the company also regained an important investment grade credit rating with all of the three global rating agencies.

“At this present time there is a lot of discussion between the US and China around the steel sector; however, the commodity has grown in strength,” added Charles Winters, Director of Private Clients at Findlay Nicolson.

With continuing worries over the potential impact on increased tariffs on a wide range of commodities that might impact the global economy, ArcelorMittal has noted that it is expecting the global demand for steel to increase consumption over 1 percent in 2019.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190207005316/en/

Mr. Huang Shun, Head of Research,huang.shun@findlaynicolson.com, +866 2 7705 3141

KEYWORD: ASIA PACIFIC TAIWAN

INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE

SOURCE: Findlay Nicolson

Copyright Business Wire 2019.

PUB: 02/07/2019 04:03 AM/DISC: 02/07/2019 04:03 AM

http://www.businesswire.com/news/home/20190207005316/en

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