| Wed 23 Jul 2008, 12:23 | | AGL - Anglo American plc notification: De Beers Societe Anonyme interim results |
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AGL
ANAAL
AGL - Anglo American plc notification: De Beers Societe Anonyme interim results
2008
Anglo American plc (the "Company")
Registered office: 20 Carlton House Terrace, London, SW1Y 5AN
Registered number: 356413
Share code: AGL
ISIN code: GB00B1XZS820
Anglo American plc notification:
De Beers Societe Anonyme interim results 2008
De Beers Societe Anonyme ("DBSA") today reported underlying earnings for the six
months ended 30 June 2008 of US$350 million.
Anglo American plc ("AA plc") arrives at its underlying earnings in respect of
De Beers by accounting for the interests arising from the ordinary shares and
the 10% preference shares it holds. AA plc will therefore report underlying
earnings of US$166 million for the six months ended 30 June 2008 from its
investment in De Beers, as reconciled in the table below:
US$ million 6 months
ended
30.6.2008
De Beers underlying earnings (100%) 350
Difference in IAS 19 accounting policy 1
De Beers underlying earnings - AA plc 351
basis (100%)
AA plc`s 45% ordinary share interest 158
Income from preference shares 8
AA plc underlying earnings 166
In the six months ended 30 June 2008, AA plc received a total of US$52 million
in distributions from De Beers, consisting of a US$45 million final dividend on
ordinary shares relating to FY 2007, and a US$7 million dividend representing
the second payment on preference shares for 2007.
Underlying Earnings
Underlying Earnings is net profit attributable to equity shareholders, adjusted
for the effect of special items and remeasurements, and any related tax and
minority interests. Special items are those items of financial performance which
are material by nature or amount and should therefore be separately presented.
These principally relate to impairment and significant closure costs,
exceptional legal provisions and profit or loss on disposals. Remeasurements
include (i) 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 and (ii) foreign currency gains and
losses arising on the retranslation of dollar denominated De Beers preference
shares held by a rand functional currency subsidiary of the Group.
The above figures are unaudited.
23 July 2008
Sponsor
UBS South Africa (Pty) Ltd
Date: 23/07/2008 12:23:25 Produced by the JSE SENS Department.
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