Anglo American Platinum interim results

RNS Number : 2069I

Anglo American PLC

23 July 2012

 



23 July 2012
Anglo American plc notification: Anglo American Platinum Limited interim results 2012

Anglo American plc wishes to draw attention to Anglo American Platinum Limited's announcement of its results for the six months ended 30 June 2012. Anglo American Platinum Limited reported headline earnings of R713 million.

Anglo American plc will report underlying earnings in respect of Anglo American Platinum Limited of $21 million for the six months ended 30 June 2012, which takes into account certain adjustments.

$m	6 months ended 30.06.12	6 months ended 30.06.11	Year ended 31.12.11
IFRS headline earnings	83	469	527
Exploration	2	2	5
Operating and financing remeasurements (net of tax)	13	(51)	(27)
Restructuring costs included in headline earnings (net of tax)	-	6	6
BEE transactions and related charges	-	-	141
Other adjustments	(3)	2	-
	95	428	652
Non-controlling interests	(19)	(87)	(132)
Elimination of intercompany interest	3	(1)	(1)
Depreciation of assets fair valued on acquisition (net of tax)	(25)	(30)	(55)
Corporate cost allocation	(33)	(25)	(54)
Contribution to Anglo American plc underlying earnings	21	285	410

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.

 

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