South32 has announced a profit after tax attributable to members of US$213 million for the financial year just ended. This marks a significant turnaround from the previous financial year, which saw a loss of US$203 million. The diversified global resources company produces commodities including alumina, aluminium, copper, silver, lead, zinc, nickel, metallurgical coal and manganese from its operations in Australia, Southern Africa and South America. South32 aims to make a difference by improving people’s lives now and for generations to come.
Revenue from continuing operations experienced a notable increase, climbing 17 per cent to US$5.78 billion. However, underlying revenue saw a decrease of 8 per cent, settling at US$7.61 billion. This decline reflects the sale of Illawarra Metallurgical Coal and the adverse effects of Tropical Cyclone Megan on the company’s Australia Manganese operations.
Chief Executive Officer Graham Kerr commented on the results, highlighting the company’s strong operating performance. “Strong operating performance during the year enabled us to capitalise on improved commodity prices,” Kerr stated. He further emphasised the strategic importance of the company’s recent portfolio transformation, noting that it “positions us for growth and higher returns for shareholders.”
In light of the positive financial results, the South32 board has declared a final dividend of US2.6¢ per share for the second half of the financial year, rewarding its shareholders.
