Aug. 20, 2013, 3:30 AM
- BHP Billiton (BHP) FY profit before items $11.8B vs $17.2B and consensus of $12.7B.
- Revenue $65.97B vs $72.23B.
- Net profit -30% to $10.9B.
- EPS $2.037 vs $2.884
- Pretax profit $17.87B vs $23.02B last year.
- Profit hurt by exceptional items of 922M and a temporarily increased tax rate, while emerging economies experienced lower-than-expected growth in H2.
- Ups final dividend by $0.02 to $0.59, slightly below forecasts for $0.60.
- BHP to cut capex by 26% in 2014 to $16.2B.
- Plans to invest $2.6B in digging shafts and installing infrastructure at its Jansen potash project in Canada over the next few years. However, BHP didn't provide a timetable for when output would begin. The miner could sell stake to partners.
- Shares -3.2% in London. (PR)
BHP Billiton Ltd is a natural resources company. The Company is engaged in the producing commodities, including iron ore, metallurgical and energy coal, conventional and unconventional oil and gas, copper, aluminium, manganese, uranium, nickel and silver.
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