Commodity Price Surge Bolsters BHP's First-Half Profits

BHP Billiton plc (BHP) - Get Reportposted stronger-than-expected first half earnings Tuesday and boosted its interim divided thanks to a surge in global commodity prices and an optimistic outlook for 2017.

BHP said profits for the six months ending in December surged to $3.24 billion, just missing analysts' forecasts of $3.4 billion but nearly 8 times higher than the $412 million posted in the same period last year. Net debt at the world's biggest miner fell to $20.1 billion, BHP said, from $26.4 billion.

The figures allowed the group to lift its interim dividend to 40 cents a share, up 150% from the same period last year and firmly ahead of the 32 cent forecast.