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Profit declines at BHP Billiton

Profit declines at BHP Billiton
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BHP Billiton saw its operational profit drop 49.6 per cent in the year to the end of June, the firm has revealed.

The FTSE 100 listed mining company recorded a figure of $12.16 billion (£7.39 billion) for the 12-month period, news that may interest those trading shares in the business on the stock market.

This was compared to the $24.14 billion that it made in the previous year and the firm stated that it had been impacted by the "severe" economic downturn.

However, it noted that it has had a "clear competitive advantage" due to its strong finances, adding that it is cautiously optimistic about the future of the commodities market.

"A brighter outlook has emerged recently from some of the developing markets," the firm said in a statement.

Following the news, shares in BHP Billiton dropped in London, falling 0.92 per cent to be priced at £15.14 in mid-morning trading.ADNFCR-1681-ID-19308706-ADNFCR