SYDNEY -- BHP Billiton Ltd. said fiscal-year net profit fell 37% because of one-time charges, but the world's biggest miner by market value recorded a 33% rise in underlying profit and a record final dividend, aided by higher prices and production for most of its commodities. BHP on Tuesday reported a net profit of $3.71 billion for the year through June, down from $5.89 billion in the 12 months prior. The miner recorded an underlying profit, stripping out one-time charges, of $8.93 billion, or $9.62 billion from continuing operations. Rio Tinto PLC earlier this month pledged $7.2 billion in shareholder returns, including a record interim dividend. BHP said the guidance was lowered because of asset sales and challenging operating conditions at some Australian coal mines.

Source: Wall Street Journal August 21, 2018 00:00 UTC