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BHP swaps petroleum for potash, ends dual-listing

Peter Ker
Peter KerResources reporter
Updated

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Key Points

  • Revenue ($USb): 60.8, up 42pc from year-earlier 42.9
  • Pre-tax profit ($USb): 24.6, up 82pc from 13.5
  • Net profit ($USb): 13.5, up 54pc from 8.7
  • Final dividend: 200US¢, payable September 21

BHP will exit petroleum, enter potash and spend $US500 million unifying its 20-year-old dual-listed company structure after a year that also delivered record dividends to shareholders.

Emboldened by a massive $US17 billion underlying profit, the third biggest since Australia’s BHP merged with London-listed Billiton in 2001, chief executive Mike Henry has embarked on a dramatic reshaping of the world’s biggest mining company.

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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com

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    Original URL: https://www.afr.com/link/follow-20180101-p58jef