RSS   Newsletter   Contact   Advertise with us

Rio Tinto net profit jumps from $4.62 billion to $8.76 billion

Staff Writer | February 7, 2018
Rio Tinto reported that its 2017 net profit to owners of the company totalled $8.76 billion compared to $4.62 billion, prior year.
Rio Tinto
Rio Tinto   Underlying earnings were $8.6 billion
Earnings per share in U.S. cents was 486.9 compared to 255.3.

Underlying earnings were $8.6 billion, 69 percent higher than prior year, driven by $4.1 billion impact of higher prices. Basic underlying earnings per share in US cents was 482.8 compared to 283.8.

Fiscal 2017 sales revenues were $40.03 billion compared to $33.78 billion, prior year, primarily due to higher average commodity prices.

Rio Tinto chief executive J-S Jacques said "Today we have announced a strong set of results with operating cash flow of $13.9 billion, a record full year dividend of $5.2 billion and an additional $1 billion share buy-back. This brings total cash returns to shareholders to $9.7 billion declared for 2017."

Rio Tinto's full year ordinary dividend is $5.2 billion, equivalent to 290 U.S. cents per share, includes final dividend of $3.2 billion, equivalent to 180 US cents per share.

The company also announced an additional share buy-back of $1.0 billion in Rio Tinto plc shares, to be completed by the end of 2018.