Rio Tinto: results, returns fail to inspire investors
(CercleFinance.com) - Rio Tinto announced on Wednesday half-year underlying EBITDA that was up 2% at 9.
2 billion dollars, while net cash generated from operating activities fell 17% to 5.2 billion dollars in the period.
"Rio's first-half numbers were soft but they have committed to return the disposal proceeds to shareholders, with the precise timing and form to be determined," UBS reacted.
Indeed Rio Tinto announced returns to shareholders amounting to 7.2 billion dollars, including 3.2 billion dollars from operations and 4 billion dollars from asset disposals.
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for close to 4 billion dollars.
Despite this, the Rio Tinto share were down 4.5% on Wednesday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
2 billion dollars, while net cash generated from operating activities fell 17% to 5.2 billion dollars in the period.
"Rio's first-half numbers were soft but they have committed to return the disposal proceeds to shareholders, with the precise timing and form to be determined," UBS reacted.
Indeed Rio Tinto announced returns to shareholders amounting to 7.2 billion dollars, including 3.2 billion dollars from operations and 4 billion dollars from asset disposals.
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for close to 4 billion dollars.
Despite this, the Rio Tinto share were down 4.5% on Wednesday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.