MARKETS

Currency fluctuations take their toll on BHPB

HIGHER coking coal sale volumes and increasing energy coal prices were not enough to offset the s...

Angie Tomlinson
Currency fluctuations take their toll on BHPB

Attributable profit for the quarter came in at US$518 million against US$572 million in the same three-month period last year.

BHPB said this result reflects the unfavourable non-cash exchange impact of around US$215 million arising mainly from the translation of non-US dollar denominated net monetary liabilities.

Energy Coal contributed EBIT of US$41 million, down from US$68 million, a decrease of 39.7% compared with the corresponding period.

The decrease was attributed to the unfavourable impact of the stronger rand and US$ and the A$/US$ average exchange rates on operating costs.

Hunter Valley mines increased output made a favourable impact on EBIT.

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