Published: 16 Feb 2011
Last Updated: 09 Oct 2013
As you’d expect, miners are cashing in hugely from the global commodities boom. A week after Rio Tinto reported a pre-tax profit of £13bn for the year, fellow Australian rival BHP Billiton has just unveiled half-year underlying earnings of £9.25bn.
BHP, no doubt in response to pressure from investors for a slice of those whopping profits, has promised to increase its share buyback programme by almost £4bn to £6.2bn ($10bn); it’s also increased its dividend by 10% to 46 cents per share.
It’s now on target to make more than £20bn this year. Looks like the failure of its bid for Potash bid hasn’t thrown it off its stride…
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