Australia mining giant BHP slumps

By Agence France-Presse

Aug 23, 2023 12:21 am

SYDNEY: Australian mining giant BHP on Tuesday recorded a major slump in annual profits, which dropped almost 40 percent as inflation bites and commodity prices fall.

The company's latest financial statements showed it banked an annual underlying profit of $13.4 billion, down 37 percent from last year, while global revenues fell 17 percent to $53.8 billion.

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