Oz Minerals Ltd
(ASX:OZL) has reversed a loss to record a net profit of $406 million for the first six months of the year.
The result included the reversal of the $141.1 million impairment for the miner’s Prominent Hill asset in 2008.
Revenue of $589.9 million was aided by growth in copper production at Prominent Hill.
Earnings before interest, tax, depreciation and amortisation generated $391.2 million, excluding the reversal of impairment.
A dividend of 3 cents, unfranked, has been declared.
Oz Minerals recorded a loss of $517.3 million for the year to 30 December 2009.
