BHP Postpones Share Buyback

10 February 2010 (Last Updated February 10th, 2010 18:30)

BHP Billiton has postponed a share buyback despite reporting better than expected results between July and December 2009. BHP said it is wary about the pace and intensity at which developed economies would recover and warned that the pace of loan growth and rate of monetary tightening i

BHP Billiton has postponed a share buyback despite reporting better than expected results between July and December 2009.

BHP said it is wary about the pace and intensity at which developed economies would recover and warned that the pace of loan growth and rate of monetary tightening in China's commodity-intensive sectors would be vital.

The company said a decrease in credit liquidity in the commodity sector might have a flow-on impact on prices.

BHP's revenue for the second half of 2009 from July to December was $24.57bn, representing a 17.5% decline compared to $29.78bn in the same period in 2008.