Rio Tinto: higher commodity prices drive results.
(CercleFinance.com) - Global miner Rio Tinto generated operating cash flow of 6.
3 billion dollars in the first six months of 2017, with its cash return to shareholders reaching 3 billion dollars.
Rio Tinto managed to boost net cash generated from operating activities to 6.3 billion dollars in the first half, up 95% from 3.2 billion dollars in the same period a year ago.
Its net earnings amounted to 3.3 billion dollars, compared to 1.7 billion dollars in the first six months of 2016, with consolidated sales revenues up almost 25% at 19.3 billion dollars, primarily due to higher average commodity prices.
Regarding cash returned to shareholders in the first half, Rio Tinto said that an interim dividend of 110 cents per share was equivalent to 2 billion dollars, with increased share buy-backs representing an additional 1 billion dollars.
Regarding guidance, Rio Tinto didn't provide many details, saying that capital expenditure was expected to remain at around 5 billion dollars in 2017, followed by around 5.5 billion dollars in 2018 and 2019.
Rio Tinto shares were down 1.8% after all these announcements.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
3 billion dollars in the first six months of 2017, with its cash return to shareholders reaching 3 billion dollars.
Rio Tinto managed to boost net cash generated from operating activities to 6.3 billion dollars in the first half, up 95% from 3.2 billion dollars in the same period a year ago.
Its net earnings amounted to 3.3 billion dollars, compared to 1.7 billion dollars in the first six months of 2016, with consolidated sales revenues up almost 25% at 19.3 billion dollars, primarily due to higher average commodity prices.
Regarding cash returned to shareholders in the first half, Rio Tinto said that an interim dividend of 110 cents per share was equivalent to 2 billion dollars, with increased share buy-backs representing an additional 1 billion dollars.
Regarding guidance, Rio Tinto didn't provide many details, saying that capital expenditure was expected to remain at around 5 billion dollars in 2017, followed by around 5.5 billion dollars in 2018 and 2019.
Rio Tinto shares were down 1.8% after all these announcements.
Copyright (c) 2017 CercleFinance.com. All rights reserved.