OZ Minerals reports revenues of $632.7 million in its half year financial results
Oz Minerals reported its half year financial results on Monday. Highlights were the following:
- Revenue of $632.7 million.
- Reported net profit after tax of $113.9 million with underlying net profit after tax of $189.1 million.
- Strong cash flow from operating activities of $388.3 million.
- Prominent Hill operations continue to perform well; Ankata underground on schedule.
- Acquisition of Carrapateena copper-gold project; commencement of studies.
- Cash balance of $905.6 million at 30 June 2011, with $750 million available for growth.
- Returns to shareholders of $518.1 million, comprised of $388.6 capital return and $129.5 million in dividends, equivalent to 160 cents per share (post share consolidation).
- Unfranked dividend of 30 cents per share to be paid in September 2011.
- Announcement of an on-market share buy-back program of up to $200.0 million to
- commence from 17 August 2011.
Read the full news release here.