BHP Billiton (ASX:BHP) Net Profit US$5.88 Billion in FY09

Melbourne, Aug 12, 2009 AEST (ABN Newswire) - BHP Billiton Ltd. (ASX:BHP) said posted a full year net profit of US$5.88 billion for the year ended 30 June 2009, down from US$15.39 billion last year, breaking a run of six consecutive record annual results for the world's biggest miner as a slump in commodity prices took its toll.

But the mining giant said the 2009 financial results still demonstrate the success of its strategy in delivering a consistently strong performance throughout the cycle. While underlying EBIT decreased by 25 percent to US$ 18.2 billion, BHP generated record operating cash flows. The company said it is well positioned to invest in growth and participate in opportunistic mergers and acquisitions.

The miner said the stimulus policies of the Chinese Government had provided strong support to short-term economic growth but there remains uncertainty about global economic growth. China and India demand returned earlier than expected, and there is emerging evidence of demand improving in North America, Europe and Japan. But BHP also said real demand following governments' stimulus will be the key to a sustainable price recovery.

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