Global miner BHP Billiton
(ASX:BHP) has posted a 7% drop in first-half profit to US $5.7 billion, blaming low commodity prices and a weak US dollar.
Revenue is down 17.5% to US $24.6 billion, despite strong sales growth on the back of a recovery in demand, particularly in the steelmaking raw materials like iron ore and coal.
However, the company reported a profit increase including exceptional items like the reversal of impairment charge for its Ravensthorpe project, of 134.4%.
BHP Billiton reported a profit of $7.24 billion in calendar 2008.
