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Rio Tinto HY Profit Down; Lifts Dividend - Quick Facts

(RTTNews) - Anglo-Australian mining giant Rio Tinto Plc (RTNTF, RIO, RIO.L, RTPPF) reported that its profit attributable to owners of the company for the six months period ended 30 June 2020 declined to US$3.32 billion or 203.6 cents per share from US$4.13 billion or 250.7 cents per share in the prior year.

But, profit after tax for the period grew to US$3.45 billion from US$2.93 billion in the previous year.

Underlying earnings decreased 4% to US$4.75 billion from US$4.93 billion in the previous year.

Underlying EBITDA was $9.6 billion, down 6% from last year, primarily due to lower prices for aluminium and copper.

Consolidated sales revenue for the period declined to US$19.36 billion from US$20.72 billion in the prior year.

The company has declared an interim dividend of US$2.5 billion or 155 US cents per share, 3% higher than 2019 first half.

The company has reconfirmed its 2020 production guidance across all commodities.

Capital expenditure expected to be around US$6 billion in 2020 and around US$7 billion in both 2021 and 2022. The three year cumulative spend of US$20 billion is unchanged from the original guidance issued in October 2019.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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