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The company has collected profit forecasts from analysts and says
consensus is for underlying net profit of US$13.5 billion, up 32% on the
US$10.2 billion it posted last year and an Australian corporate record.
UBS analysts said the biggest drivers of the uplift in profit will be a
300% increase in earnings in the stainless steel materials group thanks to
higher nickel prices along with a 48% rise in aluminum earnings on the
back of higher prices and record production.
By Alex Wilson found Aug 21, 2007 at marketwatch.com
The soaring costs of mining projects in Australia was a focus of the Rio
Tinto result three weeks ago and JPMorgan said the market will be watching
closely to see how BHP is faring at its iron ore and nickel operations in
the booming mining state of Western Australia.
JPMorgan expects BHP to post a 29 US cent per share final dividend, while
Macquarie Research Equities is forecasting 24.5 cents and Merrill Lynch 23
cents.
Macquarie describes BHP's free cash generating capacity as
"incredible" but is not convinced the miner will announce any
extension of its share buyback program.
Merrill Lynch agrees that a further buyback is unlikely, as BHP still has
more than US$6.5 billion of its US$10 billion buyback program to complete.
The results will be presided over by outgoing Chief Executive Chip
Goodyear and his replacement Marius Kloppers.
Kloppers, tipped to bring a more aggressive approach to the miner, may
face questions on his attitude to acquisitions in the wake of recent
rumors of a bid for aluminum giant Alcoa Inc.
-Contact: 201-938-5400
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