8/1/2019, 8:20 AM (Source: TeleTrader)
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Rio Tinto H1 underlying profit up 12% YoY to $4.9B

Rio Tinto Group reported on Thursday its net earnings stood at $4.13 billion, up 12% compared to the same period last year. The mining company's underlying EBITDA was 11% higher, reaching a figure of $10.25 billion. Its basic earnings per share remained unchanged from the prior year, at $2.52. Consolidated sales revenue stood at $20.7 billion, growing 9% year on year. Higher iron ore prices offset the impact of lower volumes and lower aluminum prices.

"We have delivered strong financial results with underlying EBITDA of $10.3 billion and EBITDA margin of 47%. Our financial performance was driven by our Pilbara operations with a 72% EBITDA margin, underpinned by strong iron ore prices," Rio Tinto Chief Executive Offier Jean-Sébastien Jacques commented.

The mining company announced a 19% higher interim dividend of $1.51 cents per share and a special dividend of $1.0 billion. The production guidance remained unchanged.

Breaking the News / MD