It looks like it is going to be a good day to be a BHP Billiton shareholder after the company released a strong set of results this morning for the half year ending December 2013.
The first half saw an increase in EBIT of 15% to US$12.4 which flows into an “underlying attributable profit” increase of 31% to US $7.8 billion against analyst expectations of US$6.9 billion.
The keys to this strong result according to BHP CEO Andrew MacKenzie are the improvements in volume and productivity.
“The commitment we made 18 months ago to deliver more tonnes and more barrels from our existing infrastructure at a lower cost is delivering tangible results”, Mackenzie said in a statement to the market.
Here’s a chart showing some of those productivity gains:
BHP closed last night on the ASX $38.02 back up near recent highs.