Royal Rio loses its crown
Sep 01, 2021
3 minutes
STORY GAURAV SODHI
Net profit up 270%, free cash flow up 260% and dividends that were 260% higher than the previous period. For a casual observer of Rio, this was – on every metric – a stunning result.
It’s hard not to be impressed, especially regarding smart capital allocation. Rio is returning most of its windfall profits back to shareholders and resisting the undoubtedly strong urge to spend more.
What can’t be
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