South32 (S32) in good shape to weather storm
South32 (S32) -0.47%: full year result was pretty poor vs last year but reasonable to what the market was after. EBIT was down nearly 70% but landed around 4% ahead of the market, they paid a 1USc dividend and extended the current buyback by 12 months – it has been paused but they plan to “re-commence the program as COVID-19 related operational risks subside and our financial performance improves.” The presentation wasn’t overly bullish with the company focussing on cost cutting to protect against volatile pricing. They are in the midst of offloading a number of assets.
South 32 (S32) Chart
