BHP Billiton Limited
(ASX:BHP) has reported a plunge in net profits of 86 percent to $US1.91 billion in the full year ended June 30.
This marks a stark turnaround from a profit of $US13.83 billion in the previous year.
The mining giant has acknowledged that ongoing economic reforms in China are likely to contribute to periods of market volatility.
BHP has lowered its forecast of Chinese steel demand to between 935 million tonnes and 985 million tonnes in the mid-2020s.
The company will pay a fully-franked final dividend of 62 US cents.
