Australian mining giant BHP Billiton has released its preliminary financial results for the half year ended December 31, 2008.
Accordingly, during the period in question, BHP Billiton's total revenue increased by 16.6 percent to US$29.78 billion, its profit before interest, taxes, depreciation and amortization (EBITDA) rose 24.8 percent to US$13.939 billion, while its attributable profit decreased by 56.5 percent down to US$2.617 billion, all compared with the same period last year.
BHP Billiton's profit from operations during the half year ended December 31, 2008 decreased by 23.8 percent to US$7.224 billion.
Commenting on the company's half year financial results, BHP Billiton's CE Marius Kloppers said that during the first half it witnessed an "unprecedented" fall in commodity prices, with market prices falling in the order of 50 per cent. "As the global economy continues to deteriorate, we are witnessing further demand contraction for our products," he added.