<p> BHP Group reported a lower-than-expected annual profit on Tuesday, as the miner warned of slowing economic growth outside China due to the impact of a coronavirus-led downturn.</p>.<p>While a sharp economic recovery in China helped BHP report a 4% rise in annual iron ore output last month and fuelled optimism over future growth, uncertainty over demand growth elsewhere continues to persist.</p>.<p>"We expect most major economies will contract heavily in 2020, China being the exception," Chief Executive Officer Mike Henry said.</p>.<p>The world's largest listed miner also said it was looking to divest its thermal coal operations and intends to focus on higher-quality coking coals.</p>.<p>Underlying profit attributable from continuing operations for the year ended June 30 fell to $9.06 billion from $9.47 billion a year earlier, missing estimates of $9.42 billion, according to Refinitiv IBES data.</p>.<p>The profit miss was in contrast to rival Rio Tinto , which rode its iron ore-rich portfolio to beat profit estimates last month.</p>.<p>BHP declared a final dividend of 55 cents per share, down from 78 cents a year earlier. </p>
<p> BHP Group reported a lower-than-expected annual profit on Tuesday, as the miner warned of slowing economic growth outside China due to the impact of a coronavirus-led downturn.</p>.<p>While a sharp economic recovery in China helped BHP report a 4% rise in annual iron ore output last month and fuelled optimism over future growth, uncertainty over demand growth elsewhere continues to persist.</p>.<p>"We expect most major economies will contract heavily in 2020, China being the exception," Chief Executive Officer Mike Henry said.</p>.<p>The world's largest listed miner also said it was looking to divest its thermal coal operations and intends to focus on higher-quality coking coals.</p>.<p>Underlying profit attributable from continuing operations for the year ended June 30 fell to $9.06 billion from $9.47 billion a year earlier, missing estimates of $9.42 billion, according to Refinitiv IBES data.</p>.<p>The profit miss was in contrast to rival Rio Tinto , which rode its iron ore-rich portfolio to beat profit estimates last month.</p>.<p>BHP declared a final dividend of 55 cents per share, down from 78 cents a year earlier. </p>