BHP reportedly likely to record a record loss of US$6.8 billion

August 12, 2016

BHP Billiton Ltd could be on track to report its largest corporate loss since it was created in a merger in 2001, and possibly the biggest reported loss for BHP Morgan Wealth Logosince its inception, says UBS. The broker has been reported to forecast a net loss of US$6.80 billion when the miner reports its annual earnings next week, versus a profit of US$1.91 billion a year earlier. BHP has already flagged multibillion-dollar charges linked to its Samarco venture, redundancies and its U.S. energy unit, among other things, and UBS thinks it could record further write-downs against its U.S. onshore petroleum business “given the continued deterioration on the futures curve for oil.”

Our Top Recommendations
Total returns on capital growth and dividends for 12 months ended 31 May 2018
Lovisa
207.73%
Altium
150.24%
Reliance Worldwide
81.64%
Bingo Industries
59.39%
Orocobre
55.13%
CSL Limited
45.23%
Resmed Inc
45.02%
Macquarie Group
33.39%
Ishares Asia 50 Etf
17.57%
Platinum Asia
15.66%
ASX200 Accum Index (for comparison)
9.63%