Glencore reports 23 percent rise in profit

LONDON (Reuters) - Mining and trading firm Glencore <GLEN.L> on Wednesday reported adjusted first-half core profits of $8.3 billion (£6.42 billion), up 23 percent from a year earlier and earnings before interest and tax from its trading division up 12 percent at $1.5 billion.

The marketing EBIT was in line with analysts' forecasts and the overall EBITDA was just below a consensus forecast of $8.5 billion.

CEO Ivan Glasenberg said market conditions were likely to remain volatile and the focus remained on "creating value for shareholders through the disciplined allocation of long-term capital."

(Reporting by Barbara Lewis; editing by Jason Neely)