24 Aug 2011

Miner posts biggest profit in Australian corporate history

9:10 pm on 24 August 2011

The world's largest miner, BHP Billiton, has unveiled the biggest profit in Australian corporate history to date.

The company produced a net profit of $A22.5 billion for the 12 months to 30 June this year.

The company's revenue increased more than 35% and the results were broadly in line with analysts' expectations, the ABC reports.

BHP says the result would have been stronger if not for weather-related disruptions in the supply of coal and iron ore.

Despite that, the company says it has managed record production of commodities.

Chief executive Marius Kloppers said the miner was well placed to benefit from the rapid industrialisation of countries like China.