| The TEX Report Topics < Iron Ore > | |
| HOME >> Topics List >> August, 2009 >> 05 (Wed) |
| Anglo American's 1H09 Financial Results |
| = Ferrous Metals now tops in all segments = |
|
The interim financial results for the half year period ended June 2009 announced recently by Anglo-South African resources company Anglo American show significant reductions in revenue and profit as: 'Group revenue including associates' at US$11,132 million, which was down 37.9% from the previous corresponding period; and 'Operating profit including associates before special items and remeasurements' at US$2,136 million, which was down 65.4%. Profit on the disposal of the residual investment in the Company's associated companies allowed 'Profit for the financial period attributable to equity shareholders' to secure US$2,970 million with the less declining rate of 30.6%. Sir John Parker was appointed Chairman effective from August 1, 2009 to succeed Sir Mark Moody-Stuart. [Segment-wise performance sees Ferrous Metals top in sales and profit] Base Metal and Platinum that had been the major contributors to sales and profit of the Company have given way to Ferrous Metals during the period due to the lower metal prices, and significantly lower platinum group metal and nickel prices, respectively, which brought significant reduction in revenue and profit. Kumba Iron Ore in South Africa that is specialized in production and marketing of iron ore reported an operating profit of $742 million, a 10% increase on the first half of 2008 due to strong sales volumes to China, despite lower prices. |
 |
 |
| last modified : Mon 10 Aug, 2009 [10:41] |
