Rio Tinto Annual Earnings Grow 11%
Rio Tinto recently reported underlying earnings for its fiscal 2011 year of $15.5 billion, 11% above 2010 numbers. Net earnings were $5.8 billion, 59% below last year, primarily due to an impairment charge of $8.9 billion related to the group’s aluminum businesses. In 2011, profit for the year was $6,765 million, vs. $15,098 million in 2010; $939 million was attributable to non-controlling interests, leaving $5,826 million of net earnings attributable to owners of Rio Tinto.
“Rio Tinto performed strongly in 2011, generating another set of record-breaking underlying earnings and cash flow numbers, in a year characterized by increasingly unpredictable markets,” said Jan du Plessis, chairman.
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