BHP Profit Trimmed After Bruising Asset Value Write Downs
BHPBHP(BHP) Forbes·2024-08-27 08:32

Hefty write-downs bruised an otherwise strong profit for the year to June 30 by BHP, the world’s biggest mining company.Before writing down 2.7billiononitsmothballednickelbusinessandprovidingachargeof2.7 billion on its mothballed nickel business and providing a charge of 3.8 billion for the 2015 failure of the Samarco dam at a Brazilian iron ore mine, BHP’s underlying profit was up 2% at 13.7billion.Butafterthewriteoffsthefullyearprofitwasdown3913.7 billion.But after the write-offs the full year profit was down 39% at 7.9 billion, earned from a 3% increase in revenue at $55.7 billion.The Australian-based miner also tri ...