Reported 1 day ago
Trafigura Group has experienced a significant profit decline of 62% for the 2024 financial year, reporting net profits of $2.8 billion, primarily due to $1.1 billion in losses linked to alleged employee misconduct in its Mongolian oil operations. This downturn, which also forced the company to restate several years of accounts, marks a challenging end to CEO Jeremy Weir's tenure as he prepares to hand over leadership to Richard Holtum. The total impact includes a $297 million hit from its zinc smelting business and other smaller impairments while highlighting the firm's previous successes despite recent turbulence.
Source: YAHOO