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BHP Billiton posts record year profit
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Posted 18 August 2008 @ 08:40 am GMT
Top miner BHP Billiton, bidding for rival Rio Tinto in what would be the world's second-biggest takeover, posted a 12.4 percent rise in full-year net profit to a record $15.4 billion (8.2 billion pounds), as Chinese demand stoked a commodities boom.
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Analysts say BHP may have to sweeten Rio againYear-to-end-June net profit was up from $13.4 billion the previous year and in line with analysts' forecast.
Shares in BHP, the world's biggest mining company, have fallen 5.4 percent this year to Friday's close, outperforming Australia's S&P/ASX 200 resources sector subindex , which is off 9 percent.
BHP declared a final dividend of 41 U.S. cents per share.
($1=A$1.15)
(Reporting by James Regan, editing by James Thornhill)
Copyright 2008 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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