BHP Billiton: Interim result 2013

Good results were only part of the story, with management preparing the business for a different world.

Only in a mining business can halving profits be proclaimed an outstanding outcome. BHP Billiton’s interim result was one such example. Revenue for the half year fell 14% to US$32bn while reported net profit fell 58% to US$4.2bn. On an underlying basis, that is, excluding US$1.4bn in asset writedowns due to falling commodity prices, net profit fell by a still substantial 43% to US$5.7bn.

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