Rio beats FY earnings forecasts

Major miner reports underlying earnings ahead of estimates, swings to net profit, hikes dividend above expectations.

Rio Tinto (RIO) says it is making progress to transform its business after beating forecasts on underlying earnings and dividend.

Net profit was $US3.67 billion in the 2013 full year, compared with a net loss of $US3.03 billion in the 2012 full year, the miner said.

Underlying profit increased 10% to $US10.2 billion in the 2013 full year, compared with $US9.3 billion in 2012.

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