BHP half-year profit falls by 86 per cent

BHP has revealed its latest half-year result showing an 86 per cent slump in net profits from $USD6.5 billion to $USD927 million in the six months to December 31.
BHP announced last week it would take a $USD2.5 billion impairment post-tax on the value of its West Australian nickel asset.
BHP CEO Mike Henry discussed BHP’s earnings, nickel demand and supply.
"By way of context, nickel, of course, is the smallest business by some margin in the BHP portfolio, but given the lack of supply we've seen coming in from Indonesia nickel from the last 12 months that forced us to step back and reassess the carrying value of that business," Mr Henry told Sky News Australia.
"That resulted in the impairment that we've seen.

[@KIA-MIA-POW]

With the Albanese socialist left government in power, coupled with the socialist left state governments, approval for mining leases is at an all-time low.

[@kermitthehermit9588]

And that’s not a bad thing. Some things are more important than exponential economic growth.

[@wtf22playa56]

@@kermitthehermit9588 ? you must be on the dole. If mining revenue goes down...how the govt going to pay your dole check?

[@alexfagyas9342]

Yes you are right.

[@gunga360]

At the moment while Labor is in power sell sell sell before it’s too late

[@Berlin-Kladow]

Buying opportunity when BHP crashes

[@stewatparkpark2933]

BHP has a long history of destroying the owners capital .

[@rodgerthedoger1843]

Haha yeah, I remember when BHP opened the cheque book to buy South African company Billition.
That was an absolute disaster.

[@Khgfdsaaadgyy554]

So does that mean Australia isn't producing a net profit for a foreign company?.

[@Khgfdsaaadgyy554]

Lol sounds like to me going by Credlin Australian's need to be more productive...in order to make foreign companies...a profit...and destroy Australia's flora and fauna in the process.....

[@LovelyLass-nb8op]

Ooops Labor

[@colonelklink9911]

Did they invest in Chump high tops?

[@zhaowei3025]

A democratic supporter. Too complex for you . Stick to eating Twinkies

[@Hyper_Vaccinated]

Inane shit like this is why people dislike the left.

[@Father-Grandfather]

Looking forward to seeing you at the Mardi gras. AnAl will give you some special attention at the party afterwards and he may even hand you over to Alan

[@zhaowei3025]

@@Father-Grandfather he better bring his lube

[@bigd1558]

Fun fact, your parents are siblings. 😂😂🤣🤣

[@adamsmith85]

I run a medium size family business, doing business here is very expensive. We should be value adding but it's just so expensive

[@savagegfry]

🤣🤣🤣 yes, because of over investment in battery minerals!!

[@DJ99777]

It’s not fricken easy under Albo sleazy.

[@ninaclemente5944]

It had to.....Covid has done its job exceptionally well!!!

[@takethat941]

Frightening impairment. come Monday morning 10am -SELL SELL SELL

[@williamcrossan9333]

This was known 6 days ago, at the results announcement.

[@Khgfdsaaadgyy554]

So does that mean Australia isn't producing a net profit for a foreign company?.

[@matthewleonardi247]

What do you mean?

[@Khgfdsaaadgyy554]

@@matthewleonardi247 if BHP is not producing a profit....maybe Australian' employees are not being productive enough....eg. Not consuming and working hard enough to produce a net profit for a Foreign Company... Australians really need to understand that their land is worthless and asking foreign companies to pay 68 percent of their earnings in tax is just going to hurt them...I am over foreigner's telling us Australia is worthless....