BHP Billiton announced today that it would no longer report quarterly financial results. The Company will continue to release a quarterly production report and exploration and development report, in accordance with the Listing Rules of the Australian Stock Exchange.
Chris Lynch, Chief Financial Officer, said today, “Quarterly reporting consumes significant amounts of management time and encourages a short term focus on what is a long term business. Henceforth, we will follow the standard practice in the Australian and UK markets of reporting half and full year results. The decision to cease quarterly reporting also brings us into line with our major peers. The operational performance of the Company will continue to be reported on a quarterly basis through our production report.”
BHP Billiton will release its half year results on 19 February 2004 and its full year results in August 2004.
For further information please contact:
Andrew Nairn, Investor Relations
Tel: +61 3 9609 3952 Mobile: +61 408 313 259
Tania Price, Media Relations
Tel: +61 3 9609 3815 Mobile: +61 419 152 780
Mark Lidiard, Investor & Media Relations
Tel: +44 20 7802 4156
Ariane Gentil, Media Relations
Tel: +44 20 7802 4177
Francis McAllister, Investor Relations
Tel: +1 713 961 8625 Mobile: +1 713 480 3699
Michael Campbell, Investor & Media Relations
Tel: +27 11 376 3360 Mobile: +27 82 458 2587