Lonmin Posts Full-Year Loss

Lonmin PLC

posted a net loss in its 2014 financial year. The company swung to a net loss of $188 million in the year, versus a year-ago net profit of $166 million. Lonmin's loss before taxation came in at $326 million, versus a profit of $140 million. For the full year, underlying profit before taxation fell to $46 million versus $158 million, while earnings per share declined to $5.4 cents from $20.5 cents. Its revenue slipped 37% to $965 million, while sales volume dropped 31%. Due to a strike, Lonmin lost 391,000 platinum saleable troy ounces. Lonmin shares gained 6.57% to close at $2.92 on Friday.