BHP Billiton: Interim result 2015

Plunging profits hide the fact that this was a fine result and our investment case is on track.

The unwinding of the great commodities boom has hurt the bottom line of BHP Billiton but it is also the catalyst for a transformation of the miner. Lower costs, less capital expenditure and a greater focus on investment returns were not simply features of BHP’s interim result but the lasting legacy of the boom.

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