South32 profit falls revenue lifts 1H18

Company News

by Jessica Amir

Metal and mining company, South32 (ASX:S32) reported a 12 per cent fall in its net profit after tax in the six months to 31 December 2017 to US$543 million

The company which was spun out of BHP (ASX:BHP), meantime reported a 8 per cent lift in revenue to US$3.5 billion in the six months.

The miner reported record ore production at Australian Manganese and increased its production guidance at South Africa Manganese on the back of better market conditions.

Its underlying earnings rose over the period by 14 per cent to US$544 million.

The company declared an interim dividend of 4.3 US cents per share fully franked and a special dividend of 3 US cents per share (81 per cent franked) with a record date of 9 March, payable on 5 April 2018.

Shares in South32 (ASX:S32) are trading 0.3 per cent lower at $3.69.
 

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.