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BHP Billiton posts record year profit

SYDNEY
Mon Aug 18, 2008 3:50am EDT

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SYDNEY (Reuters) - Top miner BHP Billiton (BLT.L) (BHP.AX), bidding for rival Rio Tinto (RIO.L) (RIO.AX) in what would be the world's second-biggest takeover, posted a 12.4 percent rise in full-year net profit to a record $15.4 billion, as Chinese demand stoked a commodities boom.

Year-to-end-June net profit was up from $13.4 billion the previous year and in line with analysts' forecast.

Shares in BHP, the world's biggest mining company, have fallen 5.4 percent this year to Friday's close, outperforming Australia's S&P/ASX 200 resources sector subindex .AXJR, which is off 9 percent.

BHP declared a final dividend of 41 U.S. cents per share.

($1=A$1.15)

(Reporting by James Regan, editing by James Thornhill)


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