Mining giant Rio Tinto Ltd
(ASX:RIO) has posted a 33% jump in full-year profit to US$4.87 billion, flagging an increase in demand for commodities.
The company’s underlying net profit fell 39% to $6.3 billion compared to its 2008 result, however still managed to beat analysts’ expectations.
CEO Tom Albanese says the company’s outlook for the future is strong, with Australia’s resource sector experiencing boom conditions and continued growth in China and India set to spark further demand for commodities.
Rio Tinto reported a 2008 net profit of $5.3 billion.
