Global miner BHP Billiton H2 profit soars 62%, misses forecasts

MELBOURNE: Worldwide miner BHP Billiton reported a 62 percent jump in second-half profit upon Wednesday, below market forecasts but soothed investors with a bigger-than-expected dividend. The Anglo-Australian company warned it was not immune to cost pressures facing the industry and gave the cautious outlook.



It expected a slow economic recovery for developed economies, and forecast demand for steel-making recycleables would be slow in the longer term.

Soaring iron ore, copper and oil prices boosted net profit before exceptional what to $ 10. 98 billion for the six months to June from $6. 77 billion last year, short of an average forecast of $11. 7 billion, according to Thomson Reuters I/B/E/S.

It declared your final dividend of 55 cents a share, beating forecasts for around 51 pennies.

BHP's shares have fallen 17 percent so far this year on concerns about global growth, underperforming the broader market's 14 percent fall.