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BHP reported a sharp drop in interim profit, mostly due to falling prices for iron ore and copper, as it put two Queensland coal mines up for sale. In its half year to December 31, the Australian mining company said revenue fell 16% to USD25.71 billion from USD30.53 billion a year before. The decline was mostly the result of lower realised prices for iron ore and copper, BHP said.
Attributable profit dropped 32% to USD6.46 billion from USD9.44 billion, while basic earnings per share came in at 127.5 cents, down sharply from 186.6 cents. Pretax profit fell 30% to USD10.18 billion from USD14.49 billion.
By Elizabeth Winter, Alliance News senior markets reporter
Comments and questions to newsroom@alliancenews.com
Highest price since June 2022
90c a share divi, equats to 75p!
Good morning, iron ore futures rose by 0.6% to US$126.90 a tonne in Singapore trade on Monday on hopes for better demand in China:
https://twitter.com/CommSec/status/1627749086077267970
Interims should be out 9.30 pm UK time.
Production volumes and pricing are know. The cost of the recent acquisition is known.
The market will be looking at the level of ongoing debt BHP want to carry - c$10b from memory.
I don't expect the dividend to be maintained as BHP has moved from the progressive dividend model to a capital allocation model. But the analysts will be attempting to 'read the tea leaves' of the announcement for clues to further M&A activity.
Tonight's CNBC Asian coverage normally gives better insight into BHP and analyst views than your likely to see on tomorrow morning's coverage.
Word seems to be it will be 40% down on last year.
In the early hours of tomorrow we can pick up the Interims to be released about 8.30 Australian time.
Hoping the dividend is maintained at least?
Good morning, iron ore futures lifted US25 cents or 0.2% to US$124.94 a tonne on Friday:
https://twitter.com/CommSec/status/1627378106851016705
Give it a rest Max
Good morning, iron ore futures lifted US35 cents or 0.3% to US$124.69 a tonne yesterday as traders bet that the Chinese government will lift support for the economy, helping steel demand recover:
https://twitter.com/CommSec/status/1626326625280483328
Sorry, but that’s a rather dumb answer. Don’t go on other peoples answers. Do your due diligence and you will find out yourself what’s happening.
Good morning, iron ore futures lifted US14 cents or 0.1% to US$124.34 a tonne yesterday:
https://twitter.com/CommSec/status/1625956264781185024
Which is lower than it was 2 weeks ago
Good morning, iron ore futures lifted US44 cents or 0.4% to US$124.20 a tonne yesterday:
https://twitter.com/CommSec/status/1625581284268580864
But Max says iron ore prices are rising every day !
Feb is fast approaching for first half earnings .
warning.
There will be definitely be a dividend cut looking due to drop in Iron Ore prices due to Chinese lockdown.
I’m out buy on a dip
Good morning, iron ore futures lifted US49 cents or 0.4% to US$125.14 a tonne on Friday:
https://twitter.com/CommSec/status/1624832726460428289
Good morning, iron ore futures lifted US$1.44 or 1.2% to US$124.65 yesterday a tonne as an expected recovery in China buoyed the outlook for steel demand:
https://twitter.com/CommSec/status/1623782541282127872
Good morning, iron ore futures rose by US$1.31 or 1.1% to US$125.26 a tonne on Friday. Over the week, iron ore rose by US$2.56 or 2.1%:
https://twitter.com/CommSec/status/1622301636264886272
Iron ore prices could rally as one leading producer remains reluctant to share, analyst says:
https://twitter.com/CNBC/status/1620693322086977537
Good morning, iron ore futures rose US29 cents or 0.2% to a 7-month high of US$123.37 a tonne yesterday:
https://twitter.com/CommSec/status/1620516543749849101
Good morning, iron ore futures rose US38 cents or 0.3% to 7-month highs of US$123.08 a tonne yesterday as Chinese stockpiles fell:
https://twitter.com/CommSec/status/1620153003419521024
Iron ore futures rose by US56 cents a tonne or 0.5% to US$122.49 a tonne:
https://twitter.com/CommSec/status/1618708946356965378
Iron ore futures rose by US3 cents a tonne to US$121.97 a tonne:
https://twitter.com/CommSec/status/1618000254980485120
Iron ore futures rose by US37 cents a tonne or 0.3% to US$122.16 a tonne:
https://twitter.com/CommSec/status/1617242266237825024