Xstrata profit jumps 86pc

City A.M. Reporter
Miner Xstrata said its full-year profit jumped 86 per cent, slightly beating expectations, on stronger prices for most of its commodities.

Attributable profit surged to $5.15bn (£3.19bn), from $2.77bn last year, beating the $5.05bn consensus of 18 analysts provided by the company.

Xstrata, one of the most heavily traded companies in London, said it plans to pay a final dividend of 20 cents a share, reflecting a return to pre-crisis levels.

The Anglo-Swiss miner said last week that its 2010 production of thermal coal had been affected by severe weather, but that it was still assessing the damage caused by flooding and cyclones this year in Queensland where it has coal, copper and zinc operations.