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Australia's South32 annual profit up 16 pct, backed by manganese demand

Published 23/08/2018, 08:24 am
Australia's South32 annual profit up 16 pct, backed by manganese demand
BHP
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BHPB
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S32
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Aug 23 (Reuters) - The world's largest manganese miner South32 Ltd S32.AX on Thursday posted a 16 percent rise in its annual underlying earnings, as healthy demand for manganese helped offset tepid coal output due to technical hurdles at a mine.

Underlying earnings jumped to $1.33 billion from $1.15 billion the previous year, better than analysts' expectations of around $1.32 billion.

South32, which was chipped off mining giant BHP Billiton (LON:BLT) BHP.AX in 2015, resolved to pay a final dividend of 6.2 cents a share. It had paid 6.4 cents per share in 2017.

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