South32 FY26 profit leaps 410% on higher revenue
Full story: https://grafa.com/en/news/australia/south32-fy26-profit-leaps-410-on-higher-revenue
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South32 reported a 410% surge in full-year profit to US$1.01 billion.
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The company declared a fully franked final dividend of 5.4 US cents per share.
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Higher core revenue and portfolio restructuring drove the annual earnings recovery.
Diversified miner South32 (ASX:S32) reported a 410% increase in profit after tax attributable to members to US$1.01 billion for the year ended June 30.
The result compares with a net profit of US$213 million recorded in the prior financial year.
The company resolved to pay a fully-franked final dividend of 5.4 US cents per share on Oct. 15, following a record date of Sept. 18.
“Strong operating performance coupled with commodity price tailwinds underpinned one of the best financial results in our history, with group underlying EBITDA increasing by 28% to US$2.5 billion and underlying earnings increasing by 55% to US$1 billion,” stated South32 CEO Matt Daley.
Daley added that Cannington and Sierra Gorda’s operating performance enabled the group to capture the benefit of higher prices across copper, zinc and silver, supporting increased earnings and cash flow from our base metals business.
Underlying earnings attributable to members reached US$1.03 billion, up from $666 million in the prior period.
Following the announcement, the South32 share price was up at $5.14.
The group continued its portfolio transformation during the year by agreeing to sell its aluminium value chain assets to Alcoa for up to US$5.6 billion.
The transaction is expected to leave the company with approximately 85% of its pro-forma earnings generated from base and precious metals.
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