MinRes slumps on big earnings miss

SHARES in Mineral Resources fell by as much as 13% this morning after the company’s half-year results missed estimates and the interim dividend was scrapped.

MinRes slumps on big earnings miss MinRes slumps on big earnings miss MinRes slumps on big earnings miss MinRes slumps on big earnings miss MinRes slumps on big earnings miss

Chris Ellison speaking this morning

EBITDA dropped 80% to A$156 million due to the collapse in the iron ore price and higher discounts for lower-grade ore.