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Noble Group flags another loss as restructuring costs mount

Commodity major Noble Group warns of a new quarterly loss, driven mainly by costs related to its corporate restructuring. The company is on track to complete a USD 3.5 billion rescue deal.

Bloomberg
Photo: Bloomberg

Noble Group Ltd. warned of another quarterly loss, driven by restructuring and finance costs, as the embattled commodity trader moves toward completing a USD 3.5 billion rescue deal that will hand control to creditors.

The net loss for the three months to September will be USD 90 million to USD 115 million, according to a filing on Monday. It expects to incur restructuring costs of about USD 35 million, after spending more than USD 100 million in the first half.

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