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.

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