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RIO: Strong balance sheet and solid free cashflow

Paradice Australian Large Cap , Paradice Investment Management , Reporting Season
Published on 27 February 2020 Reporting season update saw RIO reported underlying NPAT of US$10.4bn, up 18% year on year. This was largely in line with our estimates as well as consensus. The balance sheet finished the year in a strong position with US$3.6bn of net debt (this was better than expected however seems largely timing related with a tax...