BHP Billiton hit by strong Australian dollar and rand

The strong Australian dollar and South African Rand forced BHP Billiton’s profit for the September quarter down 9.4 percent to US$518 million compared to the same quarter a year earlier, despite increased sales across most of its products.

China continues to be the growth market for BHP Billiton with US$440 million of sales in the country in the September quarter. Lynch said that based on this level of shipments the company was looking at annual sales for the 2003/2004 financial year of around US$1.6 billion, a 50 percent year-on-year increase. He added that the sales volume outlook for the December quarter looks good for most products, with the exception of titanium feedstock and petroleum products.

Published

October 29, 2003

11:34 GMT

Sydney