Rio Tinto posted disappointing H1 16 results. Unlike Anglo American, Rio failed to capitalise on a material rebound in commodity prices since the beginning of this year. H1 sales were $15.5bn (-14% yoy; -8% hoh) as prices continued to more than offset the benefit of strong volumes (except for copper). Adjusted EBIT remained weak (-48% yoy; +1.6% hoh), coming in at $2.6bn and resulting in operating margins of 17.1% (vs. 18.2% in 2015), nowhere comparable to the 39% in 2011. Barring a minor upt
04 Aug 2016
Weak H1 results; though the recent strategic decisions seem sensible
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Weak H1 results; though the recent strategic decisions seem sensible
Rio Tinto plc (RIO:LON) | 5,363 0 0.0% | Mkt Cap: 67,172m
- Published:
04 Aug 2016 -
Author:
Varun Sikka -
Pages:
4
Rio Tinto posted disappointing H1 16 results. Unlike Anglo American, Rio failed to capitalise on a material rebound in commodity prices since the beginning of this year. H1 sales were $15.5bn (-14% yoy; -8% hoh) as prices continued to more than offset the benefit of strong volumes (except for copper). Adjusted EBIT remained weak (-48% yoy; +1.6% hoh), coming in at $2.6bn and resulting in operating margins of 17.1% (vs. 18.2% in 2015), nowhere comparable to the 39% in 2011. Barring a minor upt