Rio Tinto: Interim result 2014

Commodity prices fell, pessimism rose but Rio defied all by posting stunning results. Gaurav Sodhi explains how they did it.

If the mining boom is supposed to be over, no one told Rio Tinto. The mining giant released stunning results for the six months to June 30. Underlying earnings rose 21% to US$5.1bn, a remarkable achievement considering iron ore prices fell during the period. From underlying earnings per share of US$2.77, up 21%, an interim dividend of US$0.96 was declared (fully franked, ex-date 13 Aug), a rise of 15%.

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