August 21, 2017 / 10:17 PM / in a year

BRIEF-BHP Billiton says FY net profit $5.89 bln

Aug 22 (Reuters) - BHP Billiton Ltd

* board has determined to pay a final dividend of 43 us cents per share

* Fy revenue up 24% to $38.29 billion

* Fy net profit $5.89 billion versus loss of $6.39 billion

* China’s economic growth is expected to slow modestly in 2018 financial year

* Capital and exploration expenditure is expected to increase to us$6.9 billion in 2018 financial year

* Net debt of us$16.3 billion at fy-end

* for fiscal 2017, BHP Billiton Brasil has provided us$134 million funding to support Samarco’s operations and a further us$30 million for dam stabilisation

* “determined that our onshore us assets are non-core and we are actively pursuing options to exit these assets for value.”

* In Brazil, progress continues on social and environmental remediation programs following samarco dam failure.

* In 2017 financial year, BHP reported an exceptional loss of us$381 million (after tax) in relation to Samarco dam failure

* Capital and exploration expenditure of us$5.2 billion, down 32 per cent in 2017 financial year

* “we expect capital and exploration expenditure to remain below us$8 billion per annum in 2019 and 2020 financial years”

* A us$0.9 billion exploration program is now planned for 2018 financial year

* world economic growth is likely to be close to top of anticipated range of three to three and a half per cent in 2017 calendar year

* Medium term outlook for us economy is uncertain

* long-term outlook for crude oil remains positive, underpinned by rising demand from developing world and natural field decline.

* for copper, in longer term, demand growth will remain solid, with a deficit expected to emerge early next decade

* in long term, global steel market will grow modestly, supported mainly by incremental demand from india and other populous emerging markets Source text for Eikon: Further company coverage:

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