Thursday preview: Rio Tinto reports full year results

10th Feb 2016 15:53

(ShareCast News) - Rio Tinto's full year results will take centre stage on Thursday with investors keen to see how the miner has weathered a collapse in commodity prices.The company is expected to report earnings before interest, tax, depreciation and amortisation of $12.9bn, marking a 35% fall on the previous year. Underlying earnings are forecast to halve to $4.5bn in 2015 while net debt is predicted to jump 18% to $14.8bn.The results come after Standard & Poor's warned that Rio's A- credit rating could be lowered by one notch in coming weeks if the company "does not take supportive measures amid the currently weak commodity prices pressuring its cash flow".UBS said it retains its 'buy' rating, saying Rio is its preferred stock among UK diversified miners."We expect underlying earnings to fall 49% year-on-year in 2015 to US$4.8bn due to lower commodity prices; our forecast is 5% above Vuma consensus of $4.5bn (range $4.0-5.0bn)," it said.At the divisional level, Iron Ore is expected to fall 50% year-on-year to $4.0bn; it still generates 71% of product group earnings. Coal and Other Operations are forecast to be loss making (albeit better year-on-year), while Aluminium is forecast to improve 12% year-on-year to US$1.4bn due to the ramp up of the Kitimat smelter expansion." Thursday 04 FebruaryINTERIMSAvanti CapitalINTERIM DIVIDEND PAYMENT DATEAnglo Pacific Group, Tongaat-Hulett Ltd.INTERIM EX-DIVIDEND DATECohort, CPL Resources, Daejan Holdings, Downing One VCT , Drum Income Plus Reit, NB Private Equity Partners Ltd., Puma VCT 10 , Puma Vct 8, Puma VCT 9, Puma Vct VII, Stagecoach GroupQUARTERLY EX-DIVIDEND DATECustodian Reit , JPMorgan Claverhouse Inv Trust, SQN Asset Finance Income Fund Limited, Toro Limited , UnileverQ4Royal Dutch Shell 'A', Royal Dutch Shell 'B'FINALSAstraZeneca, Primary Health Properties, Royal Dutch Shell 'A', Royal Dutch Shell 'B', Smith & NephewSPECIAL DIVIDEND PAYMENT DATEScottish Inv TrustEGMSGlenwickAGMSCompass Group, Connect GroupTRADING ANNOUNCEMENTSCompass GroupFINAL DIVIDEND PAYMENT DATEScottish Inv Trust, Topps Tiles, WH SmithFINAL EX-DIVIDEND DATECVC Credit Partners European Opportunities Ltd EURO, CVC Credit Partners European Opportunities Ltd GBP, Imperial Tobacco Group, P2P Global Investments C, Terra Capital, Urban&Civic , Victrex plc