BHP Billiton reported a very good first-half 2011 result on Wednesday. The shares fell almost 2 per cent after the result however, as the market had hoped a larger-than-expected share buy-back or dividend might be announced.
In the end, the company announced a strong, clean result, with numbers largely in line with consensus.
Things have never been better for BHP, with booming commodity prices, strong demand and an improving world economy.
All of the big divisions performed well, again demonstrating the benefits of a diversified business model.
It's medium and long-term outlook still looks very robust, with the two main threats being rising costs and a potential for slower commodity price growth versus the past 12 months.
The BHP story remains one of growth, and the shares remain a BUY with a 12-month price target of $52.20 on the stock.
Friday's closing price was $46.56.
