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South32 Ltd’s Share Price Goes South On Its Report

This morning, South32 Ltd (ASX: S32) revealed its financial results for the six month period to 31 December 2017.
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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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This morning, South32 Ltd (ASX: S32) revealed its financial results for the six month period to 31 December 2017.

South32 is a resource company that was spun off from BHP Billiton Limited (ASX: BHP). The company says that it’s the world’s largest producer of manganese ore, a top producer of silver and one of the world’s largest ferronickel producers.

Here are some of its financial highlights compared to the previous year, all of these figures are in US Dollars:

  • Revenue increased by 8% to $3.49 billion
  • ‘Underlying’ day to day trading, or EBITDA, up 2% to $1.09 billion (What the heck is EBITDA?)
  • Profit down 12% to $543 million
  • Normal dividend up 19% to 4.3 cents
  • Special dividend declared of 3 cents

South32 CEO Graham Kerr said “After a challenging start to the 2018 financial year, production for the majority of our operations is tracking on or ahead of schedule.”

With a net cash balance of US$1.4 billion and Group volumes expected to increase marginally in the second half, we are well positioned – Kerr

The South32 share price is currently down 0.81% to $3.67 according to Google Finance.

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