Despite the expected sharp fall in interim profit, BHP Billiton (BHP) shareholders will get a $US0.62 interim dividend, compared to the $US0.59 cent dividend paid a year ago.
In Aussie dollar terms the latest payout is worth around 79 US cents, against the 67.7 Australian cents paid a year ago (for the 59 US cent interim).
BHP reported a $US5.35 billion ($6.86 billion) underlying attributable profit for the first half of the financial year ($US4.2 billion statutory profit).
The result was well below the $US7.8 billion for the first half of the 2013-14 financial year, but it was expected after the prices of iron ore and ore BHP’s two biggest commodities, plunged, especially in the six months to December.
Revenue fell 11.9% to $US29.9 billion in the latest half year. Underlying earnings before interest and tax fell 25% to $US922 billion in the latest half year.
BHP was able to reduce the impact of that slide in prices by slashing capital spending and exploration by 23%.
BHP chief executive Andrew Mackenzie praised the organisation for working through the tougher price environment.
“Despite significant falls in the prices of our main commodities over the last six months, group margins remain healthy,” he said in today’s statement.
Net debt dropped to $US24.9 billion, more than $US2 billion below what many local analysts had expected.
Presentation – BHP Results for the Half-Year Ended 31 December 2014
