HP Billiton H2 profit soars 62%, misses forecasts

 

　　The Anglo-Australian company warned that it was not immune to cost pressures facing the industry and gave a cautious outlook.

 

　　It expected a slow economic recovery for developed economies, and forecast demand for steel-making raw materials would be slow in the longer term.

 

　　Soaring iron ore, copper and oil prices boosted net profit before exceptional items to $ 10.98 billion for the six months to June from $6.77 billion a year ago, short of an average forecast of $11.7 billion, according to Thomson Reuters I/B/E/S.

 

　　It declared a final dividend of 55 cents a share, beating forecasts for around 51 cents.

 

　　BHP's shares have fallen 17 percent so far this year on worries about global growth, underperforming the broader market's 14 percent fall.