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Vedanta Resources expected to see first half sales boost

Natural resources firm Vedanta is likely to provide Friday's highlight corporate news.
mining truck
Metal output was up in the second quarter

Vedanta Resources Plc (LON:VED) is expected to reveal a first half sales boost when it releases interim results on Friday.

The natural resources firm last month announced a jump in production, with some 230,000 tonnes of zinc-lead metal output (up 27%) and 4.5mln ounces of refined silver (up 31%) for the three months.

Aluminium output hit record levels and copper was up significantly too.

Investors will now be keen to see what the ramp-up will mean in the interim financial.

“Apart from oil production where there was a natural decline in the resource base, the group experienced good production growth across most other commodities during the last quarter and with generally improving commodity prices, the group should see a boost to its sales,” said Graham Spooner, Share Centre investment research analyst.

“Investors will hope that a strong Indian economy and improving sales figures will help reduce the group’s large debt burden.

“Investors will also expect commentary on exploration programmes, especially in their oil division.”

Friday’s agenda

Interim Results: Vedanta Resources Plc (LON:VED), Volex Group Plc (LON:VLX), Georgia Healthcare Group Plc (LON:GHG), Grupo Clarin (LON:GCLA), Castings PLC (LON:CGS).

Trading Statement: BBA Aviation PLC (LON:BBA)

AGM / EGM: Vinaland Ltd (LON:VNL), Tlou Energy Limited (LON:TLOU), Galliford Try plc (LON:GFRD)

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