BHP Billiton has announced additional capital spending cuts of more than $US3 billion after its half year net profit dived 47.4 per cent.

However, the resources giant says its margins are still healthy because of $US10 billion in productivity gains already achieved. Half year net profit fell to $US4.3 billion ($A5.52 billion) from $US8.1 billion after a period in which iron ore and petroleum prices dived. Capital and exploration expenditure was slashed by…