August 8, 2018 / 6:13 AM / 14 days ago

Glencore reports 23 percent rise in profit

LONDON, Aug 8 (Reuters) - Mining and trading firm Glencore on Wednesday reported adjusted first-half core profits of $8.3 billion, up 23 percent from a year earlier and earnings before interest and tax from its trading division up 12 percent at $1.5 billion.

The marketing EBIT was in line with analysts' forecasts and the overall EBITDA was just below a consensus forecast of $8.5 billion.

CEO Ivan Glasenberg said market conditions were likely to remain volatile and the focus remained on "creating value for shareholders through the disciplined allocation of long-term capital."

Reporting by Barbara Lewis; editing by Jason Neely

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