Revenues rose 3 per cent at BHP, the world’s largest mining firm, because it mentioned an “uneven restoration” within the Chinese language financial system, sluggish industrial demand and better rates of interest will proceed to trigger volatility in international commodity markets.
The corporate mentioned income for the yr to June rose 3 per cent to $55.7bn whereas underlying earnings elevated 4 per cent.
Nonetheless, revenue attributable to shareholders fell 39 per cent attributable to a $2.7bn writedown of nickel property and a $3.8bn cost associated to a dam collapse in Brazil. The complete-year dividend fell 14 per cent over final yr.
BHP mentioned it expects Chinese language steelmaking to ease additional this yr and demand for iron ore, the important thing ingredient for metal, to be decrease within the medium time period.
