Australia’s largest company BHP Billiton Limited
(ASX:BHP) has reported a steep interim profit drop but lifted its dividend.
The diversified mining giant’s net profit slumped 47.4 per cent to $US4.26 billion in the first half of the 2015 financial year.
On an underlying basis the company’s profit declined 31 per cent to $US5.35 billion and revenue dropped 12 per cent to $US29.9 billion.
The result was impacted by plunging commodity prices which the company has tackled through increasing its focus on efficiency and lowering its investment.
BHP Billiton says it has achieved annualised productivity gains of near $US10 billion and cut CAPEX by close to 40 per cent in almost three years.
A fully franked interim dividend of $US0.62 has been declared, rising 5 per cent from $US0.59 the year before.
