Inflation and falling commodities cut profit 37% to US$13.4 billion, while global revenues fell 17% to US$53.8 billion.
Despite the lower-than-expected earnings, BHP expects global demand for iron ore, coal, and copper to remain ‘relatively robust’.
The company’s latest financial statements showed it banked an annual underlying profit of US$13.4 billion, down 37% from last year, while global revenues fell 17% to US$53.8 billion. China’s recent decision to resume imports of Australian coal had “little discernible impact” on the company. One of Australia’s heaviest carbon polluters, BHP also trumpeted its progress in cutting greenhouse gas emissions – which it aims to reduce by 30% before the end of the decade.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
India imposes 40% export duty on onionsThe ministry of finance aims to contain retail inflation caused by rising food prices.
Read more »
Nigeria’s Tinubu swears in cabinet amid slow economic growthThe cabinet is tasked with controlling inflation and winning back foreign investors.
Read more »
Australia to buy US Tomahawk missiles, boost long-range strike capabilityThe land down under will be only one of three nations to have Tomahawks along with the US and Britain.
Read more »
New leadership and focus for Yahoo Advertising in Australia and SEAHe will be supported by a management team of 6 from across APAC John McNerney is the new Managing Director for Australia and Southeast Asia Yahoo has unveiled a new team to lead its Australia and Southeast Asia ad tech division, Yahoo Advertising along with a refreshed focus as a media solutions partner for premium clients. John McNerney (pic) will be stepping into the new role of Managing Director for Australia and Southeast Asia. John has been with Yahoo for 13 years and was most recently Senior Director of Platforms for APAC.
Read more »
CPA Australia: Young Malaysian small business owners drive up tech focus72.2% expect to grow in 2023, compared to 54.6% last year Increasing attention on innovation & technology will support long term growth Malaysian small businesses are upbeat about their business and the economy. Meanwhile, young business owners are driving an increasing focus on technology and innovation in their small businesses. These are some of the findings from a new regional survey by CPA Australia, one of the world’s largest professional accounting associations.
Read more »
Australia to buy US Tomahawk missiles, boost long-range strike capabilitySYDNEY: Australia will spend A$1.3 billion (US$833 million) to boost its long-range strike capabilities as it finalised on Monday a deal to buy more t...
Read more »