BHP sees 32% drop in half-year profit as commodity prices fall

(Image: REUTERS/Dado Ruvic/Illustration)

A BHPthe world’s largest mining company by market value, had a net profit of US$ 6.46 billion in its first fiscal year, which ended in December, 32% less than the gain of US$ 9.44 billion recorded in the same period of the year previous year, according to a balance sheet released by the company.

The underlying profit of the Anglo-Australian company, which excludes non-recurring items, retreated 32% in the same comparison, to US$ 6.6 billion, amid the fall in the prices of some commodities.

BHP declared an interim dividend of US$0.90 per share, compared to a record payment of US$1.50 per share a year earlier.

Around 8:50 am (Brasília time), BHP shares fell 2.7% on the London Stock Exchange. In the Australian market, in Sydney, where trading this Tuesday has ended, the mining company’s share closed at a slight drop of 0.33%.

*With information from Dow Jones Newswires

Source: Moneytimes

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