BHP Billiton (ASX: BHP), the 'Big Australian', has come to the party and delivered a record breaking US$21.7 billion profit, excluding exceptional items, for financial year 2011 - a 74% jump over the corresponding period.
Including exceptional items, the profit attributable to the members of the group is US$23.6 billion, up 86%.
The financial results include Underlying EBITDA up 51% to US$37.1 billion, and Underlying EBIT up 62% to US$32.0 billion.
The company pointed to strong margins and record production across four commodities and ten operations for the extraordinary result.
The operating cash flow of US$30.1 billion and gearing of 9% confirms capacity to comfortably fund the group’s US$15.1 billion acquisition of Petrohawk Energy Corporation, and extensive organic growth program.
The completion of an expanded US$10 billion capital management program highlights the company's commitment to maintain an appropriate capital structure through all points of the economic cycle.
Revenue was up 35.9% to US$71.7 billion.
A final dividend of US$0.55 fully franked will be payable, up from US$0.45 for the corresponding period a year earlier.