Glencore Smashes 2016 Profit Target in a Year When Shares Rose More Than 200%

The mining and trading house closed the book on its 2015 share collapse, claiming its turn around was complete and suggesting it could return cash to shareholders. Glencore plc claimed victory over its doubters Thursday, posting a 48% increase in annual profits and declaring that it had completed a rapid turn around from the 2015 wobble that briefly raised questions about its viability.