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BRIEF-BHP Posts FY Cont Ops Underlying Attributable Profit Of $9.47 Bln Vs $9.62 Bln

Published 20/08/2019, 08:44 am
Updated 20/08/2019, 08:50 am
BRIEF-BHP Posts FY Cont Ops Underlying Attributable Profit Of $9.47 Bln Vs $9.62 Bln

Aug 20 (Reuters) - Bhp Group Ltd BHP.AX :

* FY TOTAL OPERATIONS ATTRIBUTABLE PROFIT $ 8,306 MILLION VERSUS $3,705 MILLION

* FY CONTINUING OPERATIONS UNDERLYING ATTRIBUTABLE PROFIT $ 9,466 MILLION VERSUS $ 9,622 MILLION

* ANNOUNCES FINAL DIVIDEND OF 78 US CENTS PER SHARE

* CAPITAL AND EXPLORATION EXPENDITURE GUIDANCE UNCHANGED FOR 2020 FINANCIAL YEAR AT BELOW US$8 BILLION

* EXPECT CAPITAL AND EXPLORATION EXPENDITURE TO BE APPROXIMATELY US$8 BILLION FOR 2021 FINANCIAL YEAR

* AS AT JUNE 30 2019, TOTAL OPERATIONS NET DEBT $9,215 MILLION VERSUS $10,934 MILLION AS AT JUNE 30, 2018

* CONTINUE TO EXPECT CHINA'S ECONOMIC GROWTH TO SLOW MODESTLY IN 2019 CALENDAR YEAR TO AROUND 6¼ PER CENT

* ADJUSTED EFFECTIVE TAX RATE IS EXPECTED TO BE IN RANGE OF 33 TO 38 PER CENT FOR 2020 FINANCIAL YEAR

* POTASH CAPITAL EXPENDITURE OF ABOUT US$215 MILLION IS EXPECTED FOR FY20.

* IRON ORE SUPPLY WILL RETURN TO MORE NORMAL PATH ON 1 TO 3 YEAR TIMEFRAME, & PRICES ARE LIKELY TO BE VOLATILE AS THAT ADJUSTMENT PLAYS OUT

* EXPECT IRON ORE QUALITY DIFFERENTIATION TO REMAIN A DURABLE ELEMENT IN PRICE FORMATION FOR STEEL MAKING RAW MATERIALS.

* "REVISED OUR NET DEBT TARGET RANGE FROM US$10 TO US$15 BILLION TO US$12 TO US$17 BILLION"

* EXPECT NET DEBT TO REMAIN AT THE LOWER END OF RANGE OF US$12 TO US$17 BILLION IN THE NEAR TERM

* SAMARCO CURRENTLY PROGRESSING PLANS FOR ACCELERATED DECOMMISSIONING OF ITS UPSTREAM TAILINGS DAMS IN A GERMANO DAM COMPLEX

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* ACCELERATED TIMING OF SAMARCO PLANS RESULTED IN BHP RECOGNISING A PROVISION FOR DECOMMISSIONING OF US$263 MILLION FOR 2019 FINANCIAL YEAR

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