Reported 1 day ago
BHP has announced a significant decline in its annual profit, hitting the lowest level in five years, primarily due to reduced demand for iron ore from China which has negatively impacted prices. Despite the decline, the company declared a larger-than-expected final dividend, which led to a modest rise in its shares. While BHP plans to reduce capital and exploration spending, it also raised its debt target and expressed interest in acquisitions in the copper and potash sectors.
Source: YAHOO