OZ Minerals: Result 2012

Another year of luckless exploration as the end of mine draws near.

Faced with declining production, declining revenues and declining profits, OZ Minerals surprised investors by raising dividends and, perhaps, raising hope. Revenue for the full year to December 2012 fell 12% to $986m, leading to a calamitous 45% decline in net profit to $152m. From earnings per share of 49.5 cents, down 40%, an unfranked dividend of 20 cents was declared (est. ex date 20 Feb), taking full year dividends to 30 cents.

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