Shares in Australian steel maker and iron ore miner Arrium Ltd
jumped as much as 5 percent on Tuesday after the
company reported a 294 percent jump in its first-half net profit
on record earnings in the mining business.
Arrium also lifted its interim dividend to 6 cents a share
after reporting an underlying net profit of A$201 million
($181.41 million) for the six months ending December, up from
A$51 million a year ago.
Arrium shares jumped as much as 5 percent at the start of
trade and last traded up 3.4 percent at A$1.84 at 2306 GMT. The
stock has gained 48.6 percent over the past year, against a 6.3
percent rise in the broader market.
($1 = 1.1080 Australian dollars)
(Reporting by Thuy Ong; Editing by Paul Tait)