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South32 lifts payout despite soft outlook

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February 15, 2018

CEO Graham Kerr says South32 has cash on its books, despite a dip in first-half profit.

Diversified miner South32 has posted a 12 per cent decline in first-half profit to $US543 million ($A685 million).

However, underlying earnings for the six months to December were up 14 per cent to $US544 million, as the company benefited from stronger commodity prices.

Revenue for the period was up eight per cent to $US3.49 billion and the miner has declared a fully-franked interim dividend of US4.3 cents, and a partially franked special dividend of US3.0 cents.

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