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Market:	LSE ASX JSE NYSE
Sector:	General Mining
EPIC:	BLT
Latest Price:	1,758.00 (2.39% )
52-week High:	2,521.50
52-week Low:	1,667.00
Market Cap:	37,130.20M

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BHP Billiton

BHP Billiton (ASX: BHP) is a global leader in the resources industry, with a diversified portfolio of natural resources. The company's operations include: iron ore, coking and thermal coal, copper, zinc, oil & gas and diamonds.

BHP Billiton’s earnings hit $9.9b, driven by record iron ore production

Wednesday, February 08, 2012 by Angela Kean

BHP Billiton (ASX: BHP) has posted a profit of US$9.9 billion, just missing the $10 billion mark for the first half of the 2012 financial year, as a result of record iron ore production from its Western Australian operations and stronger bulk commodity and petroleum product prices.

The company will issue an interim dividend of US$0.55 per share, marking a 20% increase. The payout ratio was 29.5%.

Underlying earnings before interest, taxes, depreciation and amortisation for the half year to 31 December 2011 were up 8% to US$18.7 billion, while earnings before interest and taxes increased 6% to US$15.7 billion.

BHP’s underlying earnings before interest and taxes margin remained in excess of 40% despite significant volatility across many of the company’s core markets.

Revenue for the half year jumped 9.7% to US$37.5 billion and profit from the company’s operations rose 8.1% to US$15.7 billion.

An underlying return on capital remained at the robust level of 28%.

BHP’s operating cash flow for the half year to December 2011 was US$12.3 billion and the company currently has growth projects in progress totalling in excess of US$27 billion.

The company approved five major projects during the half year for a total investment commitment of US$4 billion.

BHP’s net gearing ratio increased to 25% during the period following the successful acquisition of Petrohawk Energy Corporation.

The development of the liquids rich Eagle Ford shale and exploration activity within the Permian Basin is a priority for BHP and is expected to underpin an increase in the valuable liquids contribution to 20% of total onshore U.S. production by the end of the 2015 financial year.

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