BHP’s annual profit rises 2% on iron ore, copper growth

(Reuters) – BHP Group (NYSE:) reported a 2% rise in its annual underlying profit on Tuesday, as growth at its iron ore and businesses helped offset weaker coal prices.

The world’s largest listed miner’s fiscal 2024 profit was underpinned by a record iron ore output for a second straight year and resilient average realised prices for the steel-making commodity.

Underlying attributable profit for the year ended June 30 came in at $13.66 billion, beating a Visible Alpha consensus of $13.26 billion and ahead of the $13.42 billion profit a year ago.

BHP declared a dividend of $0.74 per share, below the prior year’s $0.80 apiece.