SYDNEY—Rio Tinto PLC said first-half net profit plunged 82% from
a year earlier, as the Anglo-Australian miner grappled with a sharp
slump in prices for its commodities, including iron ore, coal and
copper.
Rio Thursday said its first-half net profit fell to US$806
million from US$4.40 billion a year earlier. That was weighed by
noncash exchange rate and derivative losses of US$1.3 billion and
impairment charges of US$400 million related mainly to its stake in
Energy Resources of Australia Ltd.
Excluding one-time charges, underlying earnings fell 43% to
US$2.92 billion, which beat the US$2.42 billion median of seven
analysts' forecasts compiled by The Wall Street Journal.
The company declared an interim dividend of US$1.075 a share, up
12% from a year earlier and in line with analysts'
expectations.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
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