Mining giant BHP Billiton's half year net profit has dived by 47.4 per cent to $US4.3 billion ($A5.52 billion) after a period of plummeting iron ore prices.
However, a 31 per cent fall in underlying profit to $US5.35 billion was better than analysts expected, with $US938 million in non-cash impairments reducing the result.
The company blamed strong supply growth, particularly in iron ore and petroleum, for reducing profit and prices and said it expected continued volatility but overall improvement in 2015.
Source: Skynews
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