Australia's Grange Resources faces worst day in nearly 5 weeks on weak results

Grange Resources

29/08/2022 02:04

** Shares of iron ore miner and pellet producer Grange
Resources Ltd  GRR.AX  drop as much as 8.5% to A$1.240 - set
their sharpest single-day pct fall since July 26 if losses hold
    ** Co posts HY statutory profit after tax of A$132.2 mln
($90.81 mln), compared with a profit of A$205.3 mln a year ago
 urn:newsml:reuters.com:*:nGLF3Hsp5C
    ** Says pellet sales fell sightly to 1.18 mln tonnes from
1.21 mln tonnes 
    ** Shares hit their lowest since Aug. 23 
    ** Stock up 79.5% this year, as of last close, vs a 4.6%
decline in the benchmark S&P/ASX 200 index  .AXJO  

($1 = 1.4558 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))