The JSE share price of steel producer ArcelorMittal South Africa (AMSA) fell by nearly 22% on January 24, after it warned of lower profits for the financial year ended December 31, 2022. In a trading statement and business update, the steel producer said its earnings per share (EPS) for the financial year were likely to be between R2.20 and R2.50 – a decrease of 58% to 63% compared with the EPS of R5.94 reported for the 2021 financial year.
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