Mineral Resources (ASX:MIN) responded to a letter from the Australian Securities Exchange, clarifying that its decline in half-year revenue and profit was not expected to materially affect its share price, according to a Monday Australian bourse filing.
The company noted that its earnings remained above consensus forecasts, except for statutory net profit after tax, which was impacted by one-time, non-cash charges.
The company also clarified that the share price drop following the earnings announcement was not impacted by its results but by broader investor concerns, including capital and operational expenditure increases due to adverse weather conditions and the company's leverage position.
Company shares were down almost 7% in recent Tuesday trade.
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