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BRIEF-Glencore raises 2017 marketing EBIT guidance range by $100 mln
August 10, 2017 / 5:48 AM / a month ago

BRIEF-Glencore raises 2017 marketing EBIT guidance range by $100 mln

Aug 10 (Reuters) - Glencore Plc:

* INCREASED FULL YEAR 2017 MARKETING EBIT GUIDANCE RANGE BY $100 MILLION TO $2.4-$2.7 BILLION

* H1 FUNDS FROM OPERATIONS $5,201 MILLION VERSUS $2,762 MILLION

* HY ADJUSTED EBITDA OF $6.74 BILLION VERSUS. $4.020 BILLION

* NET DEBT FELL A FURTHER $1.6 BILLION TO $13.9 BILLION AT END OF H1 FROM END OF 2016

* HY EARNINGS BASIC PER SHARE $0.17

* HY NET INCOME ATTRIBUTABLE TO EQUITY HOLDERS OF $2.5 BILLION, UP FROM A LOSS OF $369 MILLION

* AS AT JUNE 30, 2017 NET FUNDING $30,190 MILLION VERSUS $32,619 MILLION AS AT DEC 31, 2016

* AS AT JUNE 30, 2017 FFO TO NET DEBT RATIO 74 PERCENT VERSUS 50 PERCENT AS AT DEC 31, 2016

* AS AT JUNE 30, 2017 NET DEBT TO ADJUSTED EBITDA RATIO 1.07 TIMES VERSUS 1.51 TIMES AS AT DEC 31, 2016

* “PORTFOLIO OF TIER 1 COMMODITIES UNDERPINS OUR AMBITION TO CREATE SIGNIFICANT LONG-TERM VALUE FOR GLENCORE SHAREHOLDERS” - CEO Source text for Eikon: Further company coverage:

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