BHP Group Ltd. has reported higher annual earnings and record copper and iron ore output, but warned that the global economy faces a patchy outlook, with growth slowing but commodity demand holding firm in Asia.
The world’s biggest mining company by market value said underlying profit attributable to shareholders rose 14% to $10.2 billion in the year to 30 June, supported by strong operational performance and tight cost control.
Underlying earnings before interest, tax, depreciation and amortisation came in at $26 billion, equivalent to a margin of 53%.
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Mike Henry, chief executive, said: “Against a backdrop of global uncertainty, this strong performance has led to robust financial outcomes and reflects the resilience of BHP’s business and strategy.”
The company declared a final dividend of 60 cents, bringing total cash returns to $5.6 billion for the year.
Copper…
