BHP said annual profit fell to the lowest in five years as sluggish demand from China weighed on iron ore prices and flagged a cut in capital and exploration spending but declared a bigger-than-expected final dividend,

BHP has reported its lowest full-year profit in five years due to lower iron ore and coal prices and pointed to a “mixed” outlook for the global economy. The Australian mining company on Tuesday said underlying attributable profit fell 26 per cent to $10.