BHP Billiton posts net profit for H1 FY 2011-12

Wednesday, 08 February 2012 17:58:06 (GMT+2)

Australian mining company BHP Billiton announced its financial results for the half year ended December 31, 2011, stating that the company's diversified portfolio of world class minerals and energy assets delivered strong financial results.

According to the company's unaudited financial statement prepared in accordance with International Financial Reporting Standards (IFRS), BHP Billiton posted a net profit of US$9.9 billion for the six months ended December 31, 2011, down 5.5 percent from US$10.5 billion in the corresponding period of the previous year. In the given period, the company's revenue was up by 9.7 percent year on year to US$37.4 billion from US$34.1 billion.

While BHP Billiton's EBIT increased in the first half of FY 2011-12 by 5.8 percent year on year to US$15.6 billion, its EBITDA reached US$18.7 billion, increasing 8.3 percent compared to the first six months of the previous year. 

According to BHP's statement, in the long term, they expect growth rate of steelmaking raw materials demand, especially in China, to slow down as underlying economic growth rates revert to a more sustainable level. Slowing activity in the most steel using sectors, construction and infrastructure, is expected to be partially offset by robust growth in consumption related sectors such as machinery and transportation.

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