BHP Billiton posts record half year profit

BHP Billiton posts record half year profit

World number one miner BHP Billiton posted record net profit for the six months to December on rising demand from China, strong commodity prices and record production. Net profit jumped 47.8 percent from $2.95 billion from a year earlier to $4.36 billion in the first half of the financial year. The figure was in line with market expectations. BHP Billiton indicated that the immediate outlook for the global economy continues to be promising. Industrial growth in the OECD is accelerating and the rise in the leading indicators suggests further improvement, it said. The company said the combination of higher-than-expected prices and confidence that strong demand would persist meant it could continue to expand production while returning surplus capital to shareholders.