BHP Unveils Profit

24 August 2010 (Last Updated August 24th, 2010 18:30)

BHP Billiton has revealed its best half-year profit in two years as it moves ahead with its hostile takeover bid of Potash Corp. BHP said it was cautious of the short-term global outlook and that the economy in China, its biggest customer, would slow following a recent rise.

BHP Billiton has revealed its best half-year profit in two years as it moves ahead with its hostile takeover bid of Potash Corp.

BHP said it was cautious of the short-term global outlook and that the economy in China, its biggest customer, would slow following a recent rise.

The miner, which has annual cash flows of $24.5bn, also reported its net debt fell by 6% to $3.3bn.

BHP chief executive Marius Kloppers is set to face questions from investors and analysts in London about the $130 s share bid, launched last week.

Leading into the result, BHP's shares were down 0.3%, while the metals and mining sector was down 1%, reports Reuters.

Potash Corp shares slipped 0.7 % on Tuesday to $149.11, trading 15 % above BHP's offer.