Diversified miner South32 has reported a 84% fall in profits for the half year ended December, as well as a 16% fall in revenue, compared with the previous corresponding period, as commodity prices tumbled and on the back of a temporary increase in the company’s underlying effective tax rate.
Profit after tax for the six months under review reached $99-million, down from the $635-million reported in the previous corresponding period, as revenues declined from $3.8-billion to $3.2-billion in the same period.