Noble falls into the red; expects margins to normalise next year
Group posts net loss of US$54.9 million for Q2, in contrast to net profit of US$62.6 million in the previous year
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NOBLE Group sank into the red in the second quarter as a lack of working capital constrained its businesses. And with raising liquidity now its overriding priority, the group said it is expecting profit margins to normalise only next year.
The commodity trading group recorded a net loss of US$54.9 million for the three months ended June 30, compared to a net profit of US$62.6 million in the previous year.
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