BHP BILLITON RESULTS FOR THE HALF YEAR Ended 31 DECEMBER 2012
The December 2012 half year was more challenging for the global resources industry. Against this backdrop, BHP Billiton's solid financial results were built on the foundations of strong operating performance, our continued focus on costs and the benefits of our differentiated strategy.
Underlying EBIT(1)(2) declined by 38% to US$9.8 billion. Substantially lower commodity prices, a weak US dollar and inflation more than offset the positive contribution from stronger volumes and operating cost savings.
The Group's Underlying EBIT margin(3) of 32% was supported by a US$1.9 billion reduction in controllable cash costs(4) on an annualised basis.
Attributable profit excluding exceptional items(3) declined by 43% to US$5.7 billion. Exceptional items totalling US$1.4 billion contributed to the 58% decrease in Attributable profit to US$4.2 billion.
A targeted divestment program continues to realise significant value for shareholders with asset sales totalling US$4.3 billion announced or completed during the period.
A four per cent increase in the interim dividend takes the compound annual growth rate of our progressive dividend to 24% over the last 10 years.
