BHP to spin off assets as annual net profit soars | Bangkok Post: news

News > World

BHP to spin off assets as annual net profit soars

- +

Global mining giant BHP Billiton posted a 23.2 percent jump in annual net profit Tuesday and said it would create a new independent company by spinning off non-core assets to cut costs and boost productivity. 

A BHP Billiton copper/uranium/gold/silver processing plant near the Olympic Dam mine in South Australia, undated handout photo released on February 9, 2012

The US$13.83 billion result in the year to June 30 -- the first time BHP has posted a year-on-year increase in net profit since 2011 -- came as spending cuts and strong production numbers offset weaker commodity prices.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments