Mining giant BHP Billiton Limited (BHP) reported an of US$7.76 billion up 31% The result beast boosted by record production from iron ore and lower tax...

Mining giant BHP Billiton Limited (BHP) reported an of US$7.76 billion up 31% The result beast boosted by record production from iron ore and lower tax payments. BHP's profit rose by 83% to US$8.1 billion. Its iron ore division profit was US$6.5 billion BHP's costs continued to decline thanks to lower tax and continued cuts in CAPEX. BHP is on track to meet its target of a 25% cut in FY14 CAPEX. Tighter capital management sees significant growth in free cash flow by US$7.8 billion in the period. Cash at end December $10,909 million, up from $5,667 million at end June 2013. BHP increased its interim dividend to US$0.59 a share, slightly less than the market had expected. Payable on 26 March 2014 Watch report here: