Rio Tinto Second-Half Profit Gains 43% as Iron Ore Rises
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Rio Tinto Group, the world’s second-largest mining company, bolstered its dividend after reporting a 43 percent gain in second-half profit as prices for iron ore advanced and it beat a cost-cutting target.
Underlying profit rose to $6 billion in the six months ended Dec. 31 from $4.2 billion a year earlier, London-based Rio said today. That compares with the $5.1 billion average estimate of 8 analysts surveyed by Bloomberg. It increased its dividend by 15 percent to 192 cents a share for the year.