While all miners globally have been reeling under the pressure of a weakening Chinese economy, even the South32 demerger (effectively undoing the 2001 merger between BHP and Billiton) – one of the biggest mining restructurings of recent times – was not good enough to prevent BHP Billiton from posting its lowest net profit since FY2004 (the onset of the mining boom). The key reason for this abysmal performance has been BHP’s (unfortunate) focus on commodities that have &ldquo
01 Sep 2015
Weakest bottom-line since FY2004
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Weakest bottom-line since FY2004
BHP Group Ltd (BHP:LON) | 2,344 351.7 0.6% | Mkt Cap: 118,837m
- Published:
01 Sep 2015 -
Author:
Varun Sikka -
Pages:
3
While all miners globally have been reeling under the pressure of a weakening Chinese economy, even the South32 demerger (effectively undoing the 2001 merger between BHP and Billiton) – one of the biggest mining restructurings of recent times – was not good enough to prevent BHP Billiton from posting its lowest net profit since FY2004 (the onset of the mining boom). The key reason for this abysmal performance has been BHP’s (unfortunate) focus on commodities that have &ldquo