BHP Billiton profits surge to record high August 24, 2011 BHP BILLITON unveiled record-breaking profits yesterday on the back of high commodity prices and strong demand from emerging markets, but the world’s largest mining company also struck a gloomy note on the state of the world economy. BHP reported an eye-watering 74 per cent jump in annual profits to $21.7bn (£13.2bn) – the seventh biggest ever [...]
BHP Billiton profits surge to record high August 24, 2011 BHP BILLITON unveiled record-breaking profits yesterday on the back of high commodity prices and strong demand from emerging markets, but the world’s largest mining company also struck a gloomy note on the state of the world economy. BHP reported an eye-watering 74 per cent jump in annual profits to $21.7bn (£13.2bn) – the seventh biggest ever [...]
ANALYST VIEWS: WERE BHP’S RESULTS IN LINE WITH EXPECTATIONS? August 24, 2011 CHRIS HEYHOE | INVESTEC BHP was marginally ahead of consensus figures due to strong iron ore and petroleum results, with attributable profit seven per cent above consensus, partly down to positive change in tax provisions and liabilities. Although we expect prices and earnings will be volatile, BHP looks strongly positioned for 2012. DOMINIC O’KANE | [...]
ANALYST VIEWS: WERE BHP’S RESULTS IN LINE WITH EXPECTATIONS? August 24, 2011 CHRIS HEYHOE | INVESTEC BHP was marginally ahead of consensus figures due to strong iron ore and petroleum results, with attributable profit seven per cent above consensus, partly down to positive change in tax provisions and liabilities. Although we expect prices and earnings will be volatile, BHP looks strongly positioned for 2012. DOMINIC O’KANE | [...]
Glencore bids for Australian nickel miner August 24, 2011 SWISS mining giant Glencore has launched a A$268m (£171.5m) bid to gain outright control of one of Australia’s largest nickel miners, Minara Resources, in a move that marks its second acquisition since its flotation in May. The global commodities trader said yesterday it is offering A$0.87 in cash for Minara shares, of which it already [...]
Glencore bids for Australian nickel miner August 24, 2011 SWISS mining giant Glencore has launched a A$268m (£171.5m) bid to gain outright control of one of Australia’s largest nickel miners, Minara Resources, in a move that marks its second acquisition since its flotation in May. The global commodities trader said yesterday it is offering A$0.87 in cash for Minara shares, of which it already [...]
Miners and energy firms push FTSE to week’s highest close August 24, 2011 Strong miners and energy stocks helped drive Britain’s top share index to its highest close in a week yesterday in choppy trade as investors jostled for position ahead of a speech by Federal Reserve Chairman Ben Bernanke on Friday. Traders pointed to continued speculation that the Fed could unveil a further round of US quantitative [...]
BHP posts record profit and raises dividend August 24, 2011 BHP Billiton reported a record second-half profit driven largely by iron ore, but just missed market forecasts and sounded a warning over costs and longer-term demand. The global miner also sought to appease investors with a big hike in its dividend. BHP, the last of the major miners to report results, was confident on the [...]
BHP sews up Petrohawk acquisition August 21, 2011 MINING giant BHP Billiton has sealed its $12.1bn (£7.35bn) of US shale gas specialist Petrohawk, just days before it is expected to report record-breaking profits. BHP said yesterday it has approval from 97.4 per cent of Petrohawk shareholders, a month after agreeing the deal with the firm’s board. The Anglo-Australian firm hopes to complete a [...]
The silver lining to losing out on Potash August 21, 2011 THIS time last year, BHP Billiton shareholders were struggling to understand the mining giant’s rationale behind bidding $40bn (£24.3bn) for a fertiliser company. Investors were left aghast after the firm became embroiled in an ugly, and ultimately unsuccessful, hostile bid for Potash Corp that cost them $350m in advisory fees alone. After they raised concerns [...]