BHP H1 Results Down, Cuts Dividend; Sees Positive Demand Outlook Ahead

(RTTNews) - BHP Group Limited (BHP.AX, BLT.L, BBL, BHP) reported Tuesday that its first-half attributable profit dropped 32 percent to $6.46 billion from last year's $9.44 billion.

Basic earnings per share were 127.5 US cents, down 32 percent from 186.6 US cents a year ago.

Attributable profit from continuing operations was down 24 percent.

Underlying attributable profit was $6.60 billion, compared to prior period's $9.72 billion.

Underlying basic earnings per ordinary share were 130.3 US cents, compared to 192.0 US cents last year.

Revenue dropped 16 percent to $25.71 billion from $30.53 billion a year ago.

Further, BHP announced a first-half dividend of 90 US cents per share, compared to last year's 150 US cents.

Looking ahead, BHP Chief Executive Officer, Mike Henry said, "We are positive about the demand outlook in the second half of FY23 and into FY24, with strengthening activity in China on the back of recent policy decisions the major driver. We expect domestic demand in China and India to provide stabilising counterweights to the ongoing slowdown in global trade and in the economies of the US, Japan and Europe."

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