Commodities
South32 Earnings Double on Base Metals Surge and Portfolio Overhaul
South32 reported a doubling of its annual earnings to $1.08bn for the year to end-June, up from $560m a year ago.
The company's headline earnings per share (HEPS) rose to 24c from 12.4c, while underlying earnings before interest, tax, depreciation and amortisation (ebitda) increased by 28% to $2.5bn.
South32's base metals business performed strongly, capturing the benefit of higher prices across copper, zinc, and silver, said CEO Matt Daley.
The company is also simplifying its portfolio with the sale of its aluminium value chain assets to Alcoa, which will be completed in the second half of 2027 financial year.