BHP, the last of the big five global miners to report results, said its underlying attributable profit fell to $6.42 billion for the year to June from $13.26 billion a year earlier. The result was below analysts' forecasts around $7.73 billion.
Net profit dropped 86 percent, as BHP took $2.9 billion in post-tax charges that it flagged previously, mainly on its U.S. shale and Nickel West businesses.
The miner raised its full year dividend to $1.24 from $1.21, but that was less than analysts' forecasts around $1.27.
The miner said it had achieved $4.1 billion in cost cuts, two years ahead schedule, as it looked to protect its investment grade rating, and said it would generate more savings in the year ahead by working its operations even harder.