BHP 0.25% $40.00 bhp group limited

BHP Earnings forecast

  1. 99 Posts.
    Found this on OIL AND GAS and worth a read as this could be the reason for further selling.

    Tuesday, 6 August, 2002
    BHP earnings likely to fall
    Melbourne, 5 August, OGT—BHP Billiton chief executive Brian Gilbertson is expected to announce tomorrow a drop of about 13% in the company's full-year net earnings, analysts say.

    However, analysts have also said such a fall would be a respectable performance, given the collapse in some of the company's main commodity markets.
    BHP is forecast to deliver a net profit before significant items of about US$1.9 billion for 2001-02.

    Some analysts predict a result of up to US$2.1 billion, down from its first post-merger record net profit of US$2.19 billion last year.

    The relatively solid report has been attributed to the company's diverse portfolio.

    Some analysts have suggested the fall in profits may have been eased by the first benefits of the BHP Billiton merger coming through.

    The company said it expected that the financial benefits from the merger were unlikely to be seen before 2003.

    However, one analyst said some cost benefits might have been brought forward, counteracting the fallout from the commodity market collapse.

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