AusRAIL, Market Sectors

BHP expected to break own profit record today

<p>BHP Billiton is expected to smash last year’s Australian profit record when it announces its 2006&#4707 preliminary results this afternoon (Wednesday, August 22).</p> <p>Fresh from posting a record $13.7bn in 2005&#4706, up 60% on the year before, there are some reports that BHP will lift profits this year by 23% to as much as $16.9bn.</p> <p>BHP’s rise comes amid strong commodity prices and record demand. </p> <p>BHP’s iron ore throughput at Port Hedland is set to rapidly increase, while its joint-owned Hay Point Coal Services reached annual and quarterly throughput records this year, despite congestion at the terminal and neighbouring Dalrymple Bay.</p> <p>Annual production figures released in July showed that BHP increased its coking and metallurgical coal volumes, and boosted iron ore production by 8% since 2006.</p> <p>Manganese ore (up 14%), alumina (7%), copper (7%) and nickel (7%) all increased to record annual production levels. </p> <br />