Anglo-Australian mining giant Rio Tinto Plc (RTNTF.PK,RIO: Quote,RIO.L,RTPPF.PK) posted a decline in its first-half net earnings to $5.89 billion from $7.59 billion, with pre-tax profit falling to $6.77 billion from $11.07 billion last year. Underlying earnings for the six months amounted to $5.2 billion, compared with $7.78 billion in 2011.
On a per share basis, six-month earnings were 315.9 cents, lower than 386.7 cents in the year-ago period, and basic underlying earnings per share slid to 278.3 cents from the prior year's 399.3 cents.
Half-yearly consolidated sales revenue on continuing operations totaled $25.34 billion, versus $29.06 billion in the previous year.
The company said that nearly 500 of investment projects are slated to start later this year and in 2013. Also, Rio Tinto Coal Australia's Blair Athol Mine, near Clermont in Central Queensland, would complete mining operations this year after almost 30 years of production.
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by RTT Staff Writer
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