(Reuters) -Australian diversified miner South32 reported a 75% surge in full-year profit on Thursday, boosted by higher prices for its key commodities and strong performance at its alumina operations.
A 45% rise in alumina prices helped lift operating earnings of the division by $714 million to $1.08 billion for the year.
Aluminium division also benefitted from higher prices of the metal due to supply constraints and rising costs
South32 said its underlying earnings for the year ended June 30 came in at $666 million, ahead of $380 million a year ago. However, it missed a Visible Alpha consensus estimate of $697.7 million.
The Perth-based miner, which separated from BHP Group in 2015, declared a final dividend of 2.6 cents per share, compared to 3.1 cents in the previous year.
(Reporting by John Biju and Adwitiya Srivastava in Bengaluru; Editing by Vijay Kishore)
Brought to you by www.srnnews.com