|
AGL
ANAAL
AGL - Anglo American plc notification: De Beers Societe Anonyme year end
results 2009
Anglo American plc
Incorporated in the United Kingdom
(Registration number: 3564138)
Short name: Anglo
Share code: AGL
ISIN number: GB00B1XZS820
("Anglo American plc" or "the company")
Anglo American plc notification: De Beers Societe Anonyme year end results
2009
Anglo American plc ("Anglo American") draws your attention to the 2009 results
of De Beers Societe Anonyme ("De Beers") announced today.
De Beers today reported profit before finance charges and taxation for the
year ended 31 December 2009 of $318 million.
Anglo American arrives at its profit before finance charges and taxation in
respect of De Beers by accounting for the interests arising from the ordinary
shares it holds. Anglo American will therefore report an operating profit of
$64 million for the year ended 31 December 2009 from its investment in De
Beers, as reconciled in the table below:
US$ million 12 months ended
31.12.2009
- De Beers profit before finance charges 318
and taxation (100%)
- Remeasurement gains on financial (173)
instruments (100%) net of asset disposals
- Reclassification of joint venture (9)
retained income
- Difference in IAS 19 accounting policy 7
- De Beers profit before finance charges 143
and taxation - AA plc basis (100%)
- Contribution to Anglo American`s 64
operating profit (45%)
De Beers today reported an underlying loss of $220 million, after the
adjustment for a difference of accounting policy and after including interest
arising from the 10% preference shares Anglo American will be reporting an
underlying loss of $90 million.
In the year ended 31 December 2009, Anglo American received a total of $33
million in distributions from De Beers, consisting of $24 million dividends on
ordinary shares relating to FY 2008 and a $9 million dividend representing
payment on preference shares. The dividend on ordinary shares was re-invested
in De Beers as a capital loan.
Operating Profit and Underlying Earnings / (Loss) Operating Profit is revenue
less operating costs before special items and remeasurements. Underlying
Earnings is net profit / (loss) 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, (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 and (iii) foreign exchange impacts arising on certain
deferred tax balances.
The above figures are unaudited.
11 February 2010
Sponsor: UBS South Africa (Pty) Ltd
Date: 11/02/2010 09:47:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
