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Rio Tinto’s first half profits set record with soaring commodity prices

Sydney-Rio Tinto PLC reported record first half net profit and more than tripled interim payments to shareholders. It has benefited from soaring commodity prices. Stimulated inflation expectations In the world.

On Wednesday, the world’s second-largest mining company by market value said its net profit for the six months to June had risen from more than $ 3.3 billion a year ago to more than $ 12.3 billion.

Underlying revenues in the first half, excluding some temporary items, more than doubled to nearly $ 12.2 billion, surpassing Vuma’s more than $ 12 billion consensus estimate from 14 analysts’ forecasts. I did.

“We saw a significant and long-term price surge in the first half of the year,” said CEO Jacob Stausholm. It was underpinned by a government stimulus program for the Covid-19 pandemic, he said.

The profit boom meant great profits for shareholders. The board has declared a common dividend of $ 3.76 per share, up from $ 1.55 the previous year. They also announced a special dividend of $ 1.85 per share.

Rio Tinto’s first half profits set record with soaring commodity prices

Source link Rio Tinto’s first half profits set record with soaring commodity prices

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