StockMarketWire.com - Evraz said it expected that earnings would suffer a hit of around $350m amid efforts to improve efficiency.

The company expected that in 2019 the effect on Ebtida from efficiency improvement program, which included the customer focus and cost saving initiatives, would be around US$350m.

The target was to maintain the pace of improvements with the effect of at least 3% from cost of good sold or about US$300m a year going forward, the company said.

The company also said it was considering three major investment projects to target an increase in sales of finished steel products over three years from 2020.

From 2020 to 2023, capital expenditures were expected to be around US$1.0bn per year, compared with the estimated US$850m capital expenditures for 2019, it added.



At 9:34am: [LON:EVRH] EVR Holdings Plc share price was -0.33p at 6.08p



Story provided by StockMarketWire.com