(Adds CEO comment, details from statement)
Aug 16 (Reuters) - BHP Group Ltd (BHP) said on Tuesday its annual profit rose 26%, helped by record sales at its Western Australian iron ore operations and strong commodity prices, and declared a slightly lower dividend than last year.
The world's largest miner by market value said coal and copper prices have risen in the recent months due to tight supply and geopolitical tensions.
Underlying profit from continuing operations for the year ended June 30 rose to $21.32 billion from $16.99 billion a year earlier, BHP said, beating a consensus estimate of $20.89 billion compiled by Vuma Financial.
However, demand for iron ore has been slowing in China as a crisis in the debt-ridden property sector and strict COVID-19 curbs hammered steel-making activity in the world's second-largest economy.
"We expect China to emerge as a source of stability for commodity demand in the year ahead, with policy support progressively taking hold," Chief Executive Mike Henry said.
The miner's final dividend was $1.75 per share, down from a record of $2 per share last year.
(Adds CEO comment, details from statement) Aug 16 (Reuters) -...
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Last
$39.97 |
Change
-0.340(0.84%) |
Mkt cap ! $203.0B | |||
| Open | High | Low | Value | Volume |
| $40.00 | $40.19 | $39.88 | $308.7M | 7.716M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 150 | $39.93 |
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| Price($) | Vol. | No. |
|---|---|---|
| $40.00 | 28332 | 7 |
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| BHP (ASX) Chart |