BHP Billiton Full-Year Profit Tumbles

reported an 86 percent drop in its profit for the year through June. BHP Billiton's annual net profit dipped to US$1.91 billion, versus a year-ago profit of US$13.83 billion. Basic EPS dropped to 35.9 cents from 260.0 cents. EBIT from continuing operations fell to $8.67 billion from $22.65 billion. Underlying earnings slipped 52 percent to US$6.42 billion. Its revenue from continuing operations fell 21.4 percent to $44.64 billion, while total revenue dropped 22.2 percent to $52.27 billion. The company's board lifted its full year dividend by 2 percent to US$1.24. BHP Billiton shares fell 7.18 percent to close at $32.17 yesterday.