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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)