MELBOURNE: Diversified mining giant BHP Billiton Ltd/Plc reported a 19.4% fall in first-half profit yesterday as a strong South African rand boosted its debt costs and offset solid demand from China.
The company, which last month shook investors with the surprise resignation of chief executive Brian Gilbertson, said that if not for foreign currency movements, it profit actually rose. Its diverse portfolio of mineral products had evened out swings in commodity prices, and analysts applauded the earnings.