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Stock impact report

Noble Group halves net loss in Q3, restructuring in focus [Reuters]

Morgan Stanley (MS) 
Last morgan stanley earnings: 4/16 07:15 am Check Earnings Report
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Company Research Source: Reuters
Noble Group halves net loss in Q3, restructuring in focus | Reuters 2 Min Read SINGAPORE, Nov 13 (Reuters) - Noble Group Ltd halved its quarterly net loss from continuing operations to $43.3 million and said its soon-to-be-completed $3.5 billion debt restructuring would enable the commodity trader to reposition its business in Asia Pacific and the Middle East. The Singapore-listed company is seeking approval from a Bermuda court for its restructuring and payment to creditors, the final hurdle to completing a debt-for-equity swap. The company, once Asia’s biggest commodity trader, has sold off many assets as part of the restructuring. On Tuesday, Noble reported an overall net loss of $99 million in the three months ending September versus a loss of $1.17 billion in the same quarter a year ago. Third-quarter revenue fell 14.1 percent. Noble reported a net loss of $93.8 million from its continuing operations in the third quarter of 2017. As Noble faced insolvency earlier this year, its s Show less Read more
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