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Rio Tinto First Half Earnings Up 35%

August 22, 2011
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Rio Tinto recently reported results for the first six months ended June 30, 2011. Underlying earnings for the first half were a record $7.8 billion, 35% above the same period last year. Profit for the first half was $8,078 million, compared to $6,278 million in the previous year’s first half. Of this, $491 million was attributable to non-controlling interests, vs. $433 million in the 2010 first half, leaving net earnings of $7,587 million of net earnings attributable to owners of Rio Tinto.

“Rio Tinto’s consistently high-performing operations are reflected in these latest results,” said Tom Albanese, chief executive. “We largely recovered from the severe weather conditions in the first quarter and, although volumes were lower than the 2010 first half, we were able to take advantage of higher prices for our products. This performance translated into record first half underlying earnings of $7.8 billion, a 35% increase on the first half of 2011.”

For more information, visit www.riotinto.com.

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