South32
(ASX:S32) has announced a massive rebound into positive territory, with its net profit after tax hitting US$1.2 billion in the 2017 financial year.
The company mining company swung into the black, up from FY16’s US$1.6 billion loss.
Its revenue also strengthened, rising 20 per cent to US$6.95 billion thanks to record production.
Its underlying earnings before interest, tax, depreciation and amoritisation (EBITDA) also responded well to the lift in commodity prices and rose to US$2.4 billion, up from FY16’s US$1.1 billion.
The mining giant declared a final dividend of US6.4 cents per share fully franked.
