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BHP Billiton Reports Huge Rise in Profits

4:19 AM MDT | August 25, 2010 | Deepti Ramesh

BHP Billiton (Melbourne) reported a more than doubling in net profits for the fiscal year ended June 30, to $12.72 billion, compared with the previous fiscal year. Sales increased about 5%, to $52.8 billion. The company did not comment on its bid to acquire Potash Corp. of Saskatchewan (PotashCorp) but it is expected to discuss the propsed deal with investors and analysts at a briefing in London today. BHP Billiton launched a hostile $39-billion offer for PotashCorp last week. PotashCorp is seeking alternative bidders to BHP Billiton and has held talks with...

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