BHP results a miss due to impairments

BHP’s full-year results have fallen short of expectations as a result of higher impairments.

BHP results a miss due to impairments BHP results a miss due to impairments BHP results a miss due to impairments BHP results a miss due to impairments BHP results a miss due to impairments

BHP CEO Andrew Mackenzie

The company posted an attributable profit of US$3.7 billion, down by 37%. The result included an exceptional loss of $5.2 billion related to the impairment of US onshore assets, US tax reform and the Samarco dam disaster.

Underlying attributable profit rose by 33% to $8.9 billion, but fell short of consensus of $9.37 billion.

The operating profit of $16 billion was in line with expectations, while underlying EBITDA rose by 20% to $23.1 million, behind consensus of $24.47 million.

"It was a good year for operations, for commodity prices and for our shareholders," BHP CEO Andrew Mackenzie told journalists this morning.

One positive from the results was the record final dividend of 63c per share, which included an additional 17c per share above the minimu...