It’s been a good day so far for Roman Abramovich, owner of Chelsea Football Club.
Evraz, the Russian steel maker where he holds a 31% stake, has announced a plan to return up to $375m to shareholders after its strong cash flow last year and its improved prospects for 2015, despite currency concerns and the current sanctions against the company.
The company said core earnings had risen 28% year on year to $2.3bn, although after exceptional items including a $1bn loss related to the recent plunge in the ruble as well as a hefty impairment charge it made a net loss of $1.3bn.
The news has sent the company’s shares up 8.3p or nearly 5% to 196p, adding nearly £40m to his fortune. Enough for another Chelsea striker.
