BHP Group said on Tuesday its first-half underlying profit was largely unchanged from a year ago, citing strong revenue generation, but warned of higher costs from the lagged effect of global inflation persisting into the second-half.
BHP remained cautious on top commodity consumer China until it became clearer as to how effective its stimulus policies push will be, while noting a “more balanced” demand picture in India which has shown “continued healthy momentum.” However, it predicted a “more balanced global economy and evidence that the worst of the general inflationary wave is behind us, will have a positive impact on our industry in calendar year 2024.”
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