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. For BHP, a big shipper of iron ore, oil, copper and coal, it was the best underlying profit since 2014. BHP reported a net profit of US$3.71 billion for the year through June, down from US$5.89 billion in the 12 months prior. But stripping out one-time charges, underlying attributable profit increased to US$8.93 billion, or US$9.62 billion from continuing operations. The company says it will also use that cash for dividends or share buy backs once the deals are completed in October.

Source: Wall Street Journal August 21, 2018 01:52 UTC