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.