28th Aug 2025 04:57
(Alliance News) - South32 Ltd on Wednesday said it swung to profit in financial year 2025, supported by double-digit revenue growth and production that beat guidance.
The Perth, Australia-based mining company reported net profit of USD210 million in the financial year ended June 30, swinging from a USD205 million loss in the previous year. Diluted earnings per share stood at 4.7 US cents, compared with a loss of 4.5 cents previously.
Total revenue increased 17% to USD5.78 billion from USD4.92 billion, while expenses excluding finance costs rose 0.9% to USD5.53 billion from USD5.48 billion. Finance costs fell 15% to USD194 million from USD227 million.
South32 cut its final dividend by 16% to 2.6 cents per share from 3.1 cents, however, the total dividend for the year jumped 71% to 6.0 cents per share from 3.5 cents.
"Our USD2.5 billion capital management program is 94% complete with USD144 million to be returned to shareholders ahead of its extension by 12 months to 11 September 2026," South32 said.
Total equity fell 1.3% to USD8.86 billion from USD8.97 billion.
In July, South32 said it beat its copper equivalent production guidance by 2% in the financial year 2025, with annual production growth of 20% for copper and 6% for aluminium.
"We continued our portfolio transformation with the sale of Illawarra Metallurgical Coal and a binding agreement to divest Cerro Matoso, which further streamline our portfolio towards critical minerals, reduce complexity and unlock capital to invest in higher-returning growth options. We increased our investment in base metals growth projects," said Chief Executive Officer Graham Kerr.
South32 shares were down 5.3% at AUD2.76 in Sydney on Thursday afternoon.
By Elijah Dale, Alliance News senior reporter Asia-Pacific
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