Rio Tinto Posts Profit In FY13; Underlying Earnings Up 10%

(RTTNews) - Anglo-Australian mining giant Rio Tinto Plc (RTNTF, RIO, RIO.L, RTPPF) posted a annual net profit attributable to owners of the company of $3.665 billion, compared to a net loss of $3.028 billion last year. Earnings per share totaled 197.3 cents, compared to last year's loss per share 163.8 cents.

The results for the year 2013 included non-cash exchange losses of $2.9 billion and impairments of $3.4 billion.

Underlying earnings grew 10 percent to $10.2 billion. Profit before tax for the year reached $3.505 billion, as against a loss of $2.431 billion a year ago.

For the year 2013, consolidated sales revenues rose to $51.171 billion from $50.942 billion.

In addition, the group announced 15 percent increase in full-year dividend to 192 cents per share, payable on April 10, to shareholders on record on March 7.

For 2014, the group said, it expects to produce about 295 million tonnes from its global operations in Australia and Canada, subject to weather constraints.