Wednesday, May 2, 2007

Lonmin Shares Rise Most in 14 Months on Forecast for `Strong' Second Half

(Bloomberg) -- Shares of Lonmin Plc, the world's third-biggest platinum producer, gained the most in 14 months after Chief Executive Officer Brad Mills forecast a ``very strong'' second half as furnace repairs allow sales to rebound.

The company posted a loss of $3 million, or 2 cents a share, in the six months to March 31, compared with $67 million, or 47.1 cents, a year earlier. Sales fell 11 percent to $631 million after damage to the furnace near Rustenburg, northwest of Johannesburg, cut production by a fifth.


Read more at Bloomberg Emerging Markets News

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