BHP profit hits three-year low in 2023 fiscal year

Affected by factors such as the fall in commodity prices, BHP has seen a sharp drop in profit in the new fiscal year. On August 22, BHP issued a financial announcement. In fiscal year 2023 (June 1, 2022-June 30, 2023), revenue was $53.817 billion, a year-on-year decrease of 17.3%; profit was $13.42 billion, a year-on-year decrease of 37%.

It was the lowest annual profit in three years. BHP chief financial officer David Lamont said at the results briefing that this was mainly due to falling commodity prices. Compared with the previous fiscal year, the prices of BHP's iron ore and copper products in fiscal year 2023 fell by 18% and 12%, respectively.