BHP Reports 2% Rise in Annual Profit Despite China's Economic Challenges

Higher iron ore and copper prices boost revenues, but asset write-downs and China's uneven recovery weigh on overall performance.

Underlying profit reached $13.7 billion for fiscal 2024, driven by higher iron ore and copper prices.
Revenues increased by 3% to $55.7 billion, despite lower prices for coal and nickel.
Significant asset write-downs, including a $3.8 billion charge related to the Samarco dam failure, impacted bottom-line profits.
CEO Mike Henry remains optimistic about China's property sector recovery in the coming year.
BHP continues to focus on copper growth following a failed bid to acquire Anglo American.