Vedanta H1 EPS down 44 pct, beats forecasts

Thu, Nov 5 12:38 PM

Enlarge Photo An employee works inside an iron factory in Kanpur in this July 21, 2009 file...

Vedanta Resources PLC:

* Says H1 EPS down 44 percent to 68.5 cents (company consensus forecast was 57 cents)

* Says H1 EBITDA down 41 percent to $746.3 million (company consensus forecast was $748 million)

* Says H1 attributable profit down 46 percent to $188.2 million (company consensus forecast was $158 million)

* Says interim dividend 17.5 cents per share versus 16.5 cents previous year; remain committed to progressive dividend policy

* Says H1 revenue down 25 percent to $2.98 billion

* Says strong balance sheet with net debt of $969 million; cash, cash equivalents, liquid investments of $6 billion

* Says appear to be witnessing early signs of economic recovery globally

* Says H1 expansionary capex was $1.79 billion in the peak year for current organic growth programme.

(For more news on Reuters Money visit http://www.reutersmoney.in)

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