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AGL
ANAAL
Anglo American plc - Kumba Resources Limited"s annual results 2005
Anglo American plc
(Incorporated in the United Kingdom)
Registration number: 3564138
Share code: AGL
ISIN: GB0004901517
(the "Company")
Anglo American plc notification:
Kumba Resources Limited"s annual results 2005
Anglo American wishes to draw attention to Kumba"s announcement of their
annual results for the year ended 31 December 2005.
Anglo American will report underlying earnings in respect of Kumba of US$261
million for the year ended 31 December 2005, which takes into account certain
adjustments.
Kumba Resources Limited $m
IFRS headline earnings (US$ equivalent of published) 373
Depreciation on assets fair valued on acquisition (net of (16)
tax)
Impact of change in South African corporate tax rate on 10
assets fair valued on acquisition
Exploration 21
Other adjustments (6)
382
Minority interest (130)
STC credit on special dividends 9
Contribution to Anglo American plc underlying earnings 261
Anglo American will report annual results for the year ended 31 December 2005
on 22 February 2005.
The above figures are unaudited.
Underlying Earnings
In previous reporting periods the Group has reported Headline Earnings as its
primary earnings measure, using the definition of Headline Earnings which is
required to be disclosed by the JSE Limited (`JSE"), consistent with that
given by the Institute of Investment Management and Research (`IIMR").
Following the adoption of International Financial Reporting Standards, as well
as consideration of other restrictions of the definition, the Group believes
that an alternative measure would provide a clearer picture of the underlying
performance of the Group.
Consequently, the Group has adopted `Underlying Earnings" as its principal
measure of 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 include those items of
financial performance which the Group believes should be excluded from
performance earnings, and principally relate to impairment and significant
closure costs, exceptional legal provisions and profit or loss on disposals.
Remeasurements include unrealised gains and losses on non-hedge derivative
instruments that are recorded in the income statement.
Headline Earnings and Headline EPS for the Group will also continue to be
reported to comply with JSE listing requirements, and a full reconciliation
will be provided between Underlying Earnings and Headline Earnings.
Sponsor
JPMorgan Equities Limited
Date: 17/02/2006 09:15:04 AM Produced by the JSE SENS Department
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