Glencore's net profit decreased in the first half of the year

According to the company's report, in the first half of 2023, the profit of the Swiss commodity trading company Glencore decreased almost 2.7 times compared to the previous year to $ 4.31 billion. Glencore's net profit per share decreased from $ 0.92 to $ 0.36. Adjusted EBITDA halved to $9.39 billion. Revenue decreased by 20 per cent to $107.41 billion. Net debt at the end of June was $1.54 billion, down 33% from a year earlier.

"The strength of our diversified business model, which includes a metals and energy-focused industrial and marketing business, has once again proven its value in a variety of market conditions," Glencore CEO Gary Nagle said in a statement.