Anglo American notification:De Beers H1 results

RNS Number : 1252I

Anglo American PLC

20 July 2012

 

20 July 2012
Anglo American plc notification: De Beers Société Anonyme interim results 2012

Anglo American plc wishes to draw attention to the De Beers Société Anonyme ("De Beers") announcement of its results for the six months ended 30 June 2012. De Beers reported underlying earnings of $385 million.

Anglo American plc arrives at its underlying earnings in respect of De Beers by accounting for the interests arising from the ordinary shares it holds. Anglo American plc will therefore report underlying earnings of $176 million from its investment in De Beers, as reconciled in the table below:

$m	6 months ended 30.06.12	6 months  ended 30.06.11	Year  ended 31.12.11
De Beers underlying earnings (100%)	385	666	968
Difference in IAS 19 accounting policy	6	(1)	17
De Beers underlying earnings - Anglo American plc basis (100%)	391	665	985
Contribution to Anglo American plc underlying earnings(1)	176	299	443

⁽¹⁾ Anglo American plc's 45% ordinary share interest.

Anglo American plc will report results for the six months ended 30 June 2012 on 27 July 2012.  The above figures are unaudited.

Underlying earnings

Underlying earnings is net profit attributable to equity shareholders, adjusted to remove special items and remeasurements, and any related tax and non-controlling interests. Special items are those items of financial performance that the Group believes should be excluded from underlying financial performance. Operating special items include impairment charges and reversals and other exceptional items, including restructuring costs. Non-operating special items include profits and losses on disposals of investments and businesses as well as certain adjustments relating to business combinations. Remeasurements include adjustments to ensure that the unrealised gains or losses on non-hedge derivative instruments are recorded in underlying earnings in the same period as the underlying transaction against which these instruments provide an economic, but not formally designated, hedge as well as foreign exchange impact arising in US dollar functional currency entities on deferred tax balances.

Click on, or paste the following link into your web browser, to view the associated PDF document. 

http://www.rns-pdf.londonstockexchange.com/rns/1252I_-2012-7-20.pdf

 

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