The world's biggest miner BHP Billiton today said that its annual net profit fell 30% to $10.72 billion, ending a seven-year run of record results.
Profit was down to $4.67 billion from $15.39 billion the previous year. Profit including exceptional items was $5.877 billion, a fall of 61.8%.
The Anglo-Australian company, which has benefited in recent years from a China-driven resources boom, said it experienced a collapse in demand for commodities over the year.
It released a cautiously optimistic outlook, saying commodities supply may struggle to meet demand. 'In the long term, we continue to expect strong growth in demand for our commodities,' it said.
BHP Billiton, created through the 2001 merger of Australia's BHP and London-based Billiton, has more than 40,000 employees working in 25 countries.
It has over 100 operations across a range of resources products, including coal, iron ore, uranium, petroleum, nickel, copper, silver and diamonds.
