Rio Tinto 2006 net profit surges 43 pct to record 7.438 bln usd |
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Published
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Thu, 01 Feb 2007 07:52
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SYDNEY (XFN-ASIA) - Rio Tinto said its net profit for the year to December, 2006, rose 43 pct to a record 7.438 bln usd as it benefited from strong commodity prices and record output of key products including iron ore.The result was in line with market forecasts.The world's second-largest miner said strong demand for most commodities combined with a sound operational performance to produce the record result.Underlying net profit before one-off items surged 48 pct from a year earlier to 7.338 bln usd.The group declared a final dividend of 0.64 usd a share, up from 0.415 in the 2005 when shareholders also received a special dividend of 1.10 usd a share.A capital return of four bln usd in cash to shareholders over 2006 and 2007 was almost completed a year ahead of schedule. In October, Rio announced an additional three bln usd share buy back.Rio Tinto chairman Paul Skinner said the outlook for 2007 contains a number of uncertainties in the global economy, not least being the direction of inflation and interest rates in major economies.'We expect some moderation of global economic growth, although confidence in Japan and Europe is increasing,' Skinner said in a statement.'Growth in China, which is critical to the demand outlook for many of our products, remains strong and well balanced.'He said Rio continues to view the overall outlook for commodities as positive, with prices remaining well above their long run averages in 2007.bruce.hextall@xfn.com
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