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Share Name Share Symbol Market Type Share ISIN Share Description
Antofagasta Plc LSE:ANTO London Ordinary Share GB0000456144 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -18.60p -2.29% 795.20p 796.80p 797.60p 807.60p 777.40p 804.80p 4,175,302 16:35:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 3,516.4 1,355.5 56.4 13.3 7,839.53

Antofagasta's Earnings Soar, Underpinned by Rising Copper Prices

13/03/2018 8:02am

Dow Jones News


Antofagasta (LSE:ANTO)
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1 Year : From Nov 2017 to Nov 2018

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   By Oliver Griffin 
 

Chilean miner Antofagasta PLC (ANTO.LN) said Tuesday that net profit in 2017 rose more than four-fold, driven by an improved copper market and strong cost management.

Net profit for the year ended Dec. 31 soared to $750.6 million from $158 million a year earlier, the copper miner said. Earnings before interest, taxes, depreciation and amortization--the company's preferred measure--rose 59% to $2.59 billion from $1.63 billion.

Pretax profit rose to $1.83 billion from $284.6 million, while revenue grew 31% to $4.75 billion, the mining company said.

Copper production for 2018 is forecast at 705,000 tons to 740,000 tons, while gold production is expected in the range of 190,000 ounces to 210,000 ounces, Antofagasta said. Production of strategic metal molybdenum is seen at between 11,500 tons and 12,500 tons.

Antofagasta declared a final dividend of 40.6 cents a chare, taking the total dividend to the year to 50.9 cents. The full-year dividend in 2016 was 18.4 cents a share.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com

 

(END) Dow Jones Newswires

March 13, 2018 03:47 ET (07:47 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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