Business & Financial News

BHP Billiton, the first global mining group, announced Wednesday a 47% increase in its half-yearly profits, a result consistent with expectations of analysts supported by the rise in the price of iron ore and copper.

BHP, which last week launched a hostile bid of 39 billion dollars on the Canadian Potash, the world fertilizer, said he was cautious about prospects for the near term indicating an expected slowdown growth in China, its largest market.

Over the period January-June, second half of its fiscal year, BHP Billiton has made a net profit before exceptional items of 6.77 billion dollars against 4.59 billion a year earlier, while 13 analysts polled by Reuters had expected a result of about 6.9 billion.

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