BHP surprises with profit

Comment on this story
IOL pic feb18 bhp Andrew Mackenzie Reuters Andrew Mackenzie

Melbourne -

The world's biggest miner, BHP Billiton, has reported a better-than-expected half-year profit of $8.1-billion, helped by cost cutting.

BHP's shareholders could participate in a company share buyback in six months.

Chief executive Andrew Mackenzie on Tuesday said net debt should be down to $25-billion within months, a level he has previously said could trigger a capital return.

BHP's profit for the July-December half year increased to $8.1-billion from $4.4-billion a year earlier.

Stripping out a one-time $346-million gain from selling a US copper mine, profit was a higher than forecast $7.8-billion. - Sapa-AP

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines