Rio Tinto net profit jumps from $4.62 billion to $8.76 billionStaff 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 Underlying earnings were $8.6 billion
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. ■