October 29, 2018 / 12:00 PM / 18 days ago

Noble Group sees third-quarter loss from restructuring expenses

The company logo of Noble Group is displayed at its office in Hong Kong, China January 22, 2016. REUTERS/Bobby Yip

(Reuters) - Noble Group, once Asia’s largest commodities trader, said it expects to report a loss of about $90 million to $115 million for the third quarter, hurt by restructuring expenses and losses at its discontinued operations.

The performance for the quarter continued to be impacted by liquidity constraints and the availability of competitive trade finance to support its operations, the Singapore-listed company said in a statement on Monday.

However, it expects to report a profit before interest, tax and restructuring expenses of $20 million to $35 million for the quarter.

Noble won approval from shareholders in August for a $3.5 billion debt restructuring to ensure the company’s survival.

Reporting by Chandini Monnappa in Bengaluru; Editing by Kirsten Donovan

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