BHP cautions on recovery
China Daily | Updated: 2010-02-11 07:54
MELBOURNE: Top global miner BHP Billiton signaled caution over a sustained global recovery and held off from a share buyback after reporting its weakest first-half profit in four years.
BHP's July-December profit nevertheless beat market forecasts and was 24 percent stronger than in the previous half, spurring the miner to raise its dividend slightly, pushing its shares up more than 3 percent.
"The momentum's the important factor," said Tim Schroeders, a portfolio manager at Pengana Capital.
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