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BHP doubles FY10 profit, cautions on market outlook

August 30, 2010 - 00:00 GMT

Mixed prospects - Kloppers warns of uncertain markets despite record sales

BHP Billiton more than doubled net profit in its last financial year, as it warned of mixed prospects for its commodities for the rest of 2010. Record sales volumes of iron ore and coking coal, as well as higher prices for nickel, copper, and aluminium, helped push net profit up 116.5% to $12.72 billion in the year ended June 30. BHP gave a cautious assessment of markets in the short term, citing uncertainty in developed economies and a slowdown in economic growth in China. “There is strong physical demand for some commodities, such as copper, where consumers are restocking...

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