Noble shares down 32% in largest one-day dive; posts Q1 loss of US$129m
Commodity group attributes the surprise loss to a dislocation in coal markets and higher oil prices
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Singapore
NOBLE Group's shares were in free fall on Thursday as the group announced a first-quarter loss of US$129.3 million despite a rise in revenue, as well as a major reshuffling of its board.
Blaming the surprise loss on a dislocation in coal markets and higher oil prices, the commodity group said it will continue to focus on cutting costs and ensuring a disciplined management of its balance sheet and liquidity.
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