Welcome Guest [Log In] [Register]


Reply
  • Pages:
  • 1
  • 3
BHP profits down 86% yoy; TIMBER TIMMY!
Topic Started: 31 Aug 2015, 01:05 AM (2,839 Views)
Ex BP Golly
Member Avatar


"BHP Billiton posted a sharp fall in profit, missing analyst expectations in the face of a painful commodity price rout as it warned that economic reforms in China would likely mean further short-term volatility for markets.
The mining giant said profits after tax for the full year ending in June tumbled 86 percent to $1.91 billion, sharply down from $13.8 billion the previous year. Underlying attributable profits also tanked from $13.26 billion to $6.4 billion.
But the group also said its productivity gains of $4.1 billion were two years ahead of schedule and it expects further cost reductions in the 2016 financial year across all businesses.

Appearing on CNBC's "Squawk on the Street" BHP Billiton CEO, Andrew Mackenzie, said he believed China would continue to grow at 7 percent this year as the country tries to balance its "desire to grow with some side effects of growing too quickly."
"There may be people outside of China who doubt that, but when they were growing at 10 percent we had a number of leading indicators that would substantiate that."

Source: 'BHP Billiton CEO bullish on China as profit tumbles 86%'
Jenny Cosgrave| @jenny_cosgrave

http://www.cnbc.com/2015/08/25/bhp-billiton-reports-86-fall-in-full-year-net-profit-to-19b.html


Edited by Ex BP Golly, 31 Aug 2015, 01:05 AM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
Profile "REPLY WITH QUOTE" Go to top
 
createdby
Default APF Avatar


Lol at people who bought the dip from last Monday's mini crash.

Sent the price surging $5 to $35, but it's a $10 stock in reality, $15 at best.
Profile "REPLY WITH QUOTE" Go to top
 
Will
Unregistered

China growing at 7 percent a year. That's pretty good actually. How long can this keep going in a finite world?
"REPLY WITH QUOTE" Go to top
 
Guest
Unregistered

Will
31 Aug 2015, 07:51 AM
China growing at 7 percent a year. That's pretty good actually. How long can this keep going in a finite world?
After about 20 years of 20% growth, 7% is a crash landing.

With the recent stock market crash I would expect growth has dropped below this farcial number.

The big wind down after the big wind up.
"REPLY WITH QUOTE" Go to top
 
Chinamen
Unregistered

will
 
China growing at 7 percent a year. That's pretty good actually.
Agreed. Chinese growth averaged below 10% for the last few decades so 7% isn't too bad.

Posted Image
"REPLY WITH QUOTE" Go to top
 
Ex BP Golly
Member Avatar


Chinamen
31 Aug 2015, 09:22 AM
Agreed. Chinese growth averaged below 10% for the last few decades so 7% isn't too bad.

Posted Image
Not doing much for BHP that a 3% drop in the Chinese economy translates into c.70% drop for BHP.
Edited by Ex BP Golly, 31 Aug 2015, 10:49 AM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
Profile "REPLY WITH QUOTE" Go to top
 
Terry
Member Avatar


Chinamen
31 Aug 2015, 09:22 AM
Agreed. Chinese growth averaged below 10% for the last few decades so 7% isn't too bad.

Posted Image
Only problems with 10% or 7%, like many things in China, these numbers are manufactured, so you never really know what they mean.
Could be an opportunity to speculate on select mining services companies. BHP will need to cut costs and what a better way to do thing is to outsource as much as possible. Also, maybe a good opportunity for recruiting mining workers who will sell their labor at lower cost.
Edited by Terry, 31 Aug 2015, 11:26 AM.
Profile "REPLY WITH QUOTE" Go to top
 
Foxy
Member Avatar
Zero is coming...

createdby
31 Aug 2015, 06:37 AM
Lol at people who bought the dip from last Monday's mini crash.

Sent the price surging $5 to $35, but it's a $10 stock in reality, $15 at best.
i think you are right.

I may buy some at $10.

Peter
Will
31 Aug 2015, 07:51 AM
China growing at 7 percent a year. That's pretty good actually. How long can this keep going in a finite world?
No it is infinite.

Luxury goods can be at any price.

Peter
Edited by Foxy, 31 Aug 2015, 01:17 PM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
Profile "REPLY WITH QUOTE" Go to top
 
The Whole Truth
Member Avatar


Ex BP Golly
31 Aug 2015, 01:05 AM

But the group also said its productivity gains of $4.1 billion were two years ahead of schedule and it expects further cost reductions in the 2016 financial year across all businesses.


So what does this mean golly?
That they have closed a shit load more mines earlier than expected?
Or laid off a shitload more staff earlier than expected?
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
Profile "REPLY WITH QUOTE" Go to top
 
Terry
Member Avatar


The Whole Truth
31 Aug 2015, 01:18 PM
So what does this mean golly?
That they have closed a shit load more mines earlier than expected?
Or laid off a shitload more staff earlier than expected?
It means they have the opportunity to cut costs further. Human resource and operations costs are obvious places to start.
Profile "REPLY WITH QUOTE" Go to top
 
1 user reading this topic (1 Guest and 0 Anonymous)
ZetaBoards - Free Forum Hosting
Create your own social network with a free forum.
Go to Next Page
« Previous Topic · Australian Property Forum · Next Topic »
Reply
  • Pages:
  • 1
  • 3



Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.

Forum Rules: The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.

Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.

Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.

This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.

For more information go to Limitations on Exclusive Rights: Fair Use

Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ

Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy