Glencore Profit Doubles on Energy-Market Volatility

Glencore Profit Doubles on Energy-Market Volatility

Commodities giant Glencore PLC said profit more than doubled in the first six months of the year, boosted by significant market volatility stirred up by macroeconomic and geopolitical events—a theme it expects to continue for markets through the rest of 2022.

The mining and trading company on Thursday reported a jump in first half adjusted earnings before interest, taxes, depreciation and amortization—a closely watched figure—to a record $18.92 billion, up from $8.65 billion in the same period last year. Net profit for the six months ended June 30 was $12.09 billion, up from $1.28 billion last year.

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