25.02.2015 - BHP Billiton has cut its net profit nearly doubled
One of the world's largest mining company BHP Billiton has published a report according to which the company's net profit fell by 47% over the last six months. So net profit fell to 4.27 billion dollars against 8.11 billion in the same period of 2013. The main reason for falling profits was a sharp decline in prices for iron ore, profits from which are about half of the overall financial performance of the company and the collapse of oil prices. At the same time, we underline the growth prospects of the company's shares in connection with the successful program of spending cuts and the expectation of rising raw material prices at the end of this year. According to our estimates, growth of stocks may reach 15% by the year end.