BHP 1.66% $46.23 bhp group limited

Profit Slides - from ABC Online

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    Resources giant BHP Billiton has posted an 11 per cent fall in net profit while sounding a warning about the global economy.

    It has announced a net profit before exceptional items of $3.48 billion.

    Chief executive Brian Gilbertson says the result has been achieved in difficult conditions, with lower commodity prices and sales volumes.

    But he says the company has made good progress in its aim to achieve $270 million in cost savings from the merger.

    "There's ongoing operational savings which are achieved by eliminating duplication, by doing the same job with fewer people, by having fewer offices," he said.

    "In the past year, we reduced the number of offices from 54 to 23, and we saw the head count fall by over 1,300 employees and contractors."

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