The metals and mining giant raised its interim dividend and announced a buyback of up to
Net profit more than tripled in the first-half, reaching
Excluding the impairments and some other items like losses on disposal of investment, its profit rose to
The company also said that it will start a share buy-back programme of up to
The metals giant said its adjusted Ebitda was buoyed by "generally increased" volumes and improved market and procurement conditions, notably in grains, copper, zinc and nickel.
Its metals and minerals adjusted Ebitda mining margin improved to 32%, from 29%, while the adjusted Ebitda margin in its energy business was stable at 29%, "reflecting the higher overall industrial profitability and improving asset quality," it said.
Last week the metals giant reported higher copper, ferrochrome and oil production in the first-half of the year as it ramped up output at some mines and oil facilities, although zinc and nickel production was down on the year as other mines depleted reserves or were placed on care and maintenance.
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