Lonmin Reports H1 Loss

posted a loss for the six months ended March 31. The London-based company posted a loss before tax of $118 million, versus a year-earlier loss of $278 million. Its loss per share came in at 13.6, versus a loss of 35.5. Underlying loss before tax came in at $77 million, from a profit of $26 million. Its revenue slipped to $508 million, versus $578 million in the year-ago period. Chief Executive Ben Magara said, "We have continued to make good progress in a tough PGM pricing environment." Lonmin shares gained 1.77 percent to close at $2.30 on Friday.