12th Feb 2007 07:00
Anglo American PLC12 February 2007 News Release 12 February 2007 Anglo American plc notification: Anglo Platinum annual results 2006 Anglo American wishes to draw attention to Anglo Platinum's announcement oftheir annual results for the year ended 31 December 2006. Anglo American will report underlying earnings in respect of Platinum ofUS$1,265 million for the year ended 31 December 2006, which takes into accountcertain adjustments. Anglo Platinum Limited $m IFRS headline earnings (US dollar equivalent of published) 1,771Exchange rate difference (40)Exploration 30Adjustment to profit on disposal(1) 16Other adjustments (6) 1,771Minority interest (454)Depreciation on assets fair valued on acquisition (net of tax) (52)Contribution to Anglo American plc underlying earnings 1,265 (1) The BEE cost included in the current year transaction in respect of thedisposal of 15% of Union section by Anglo Platinum is calculated in accordancewith IFRS2 "Share-based payment". This is excluded from Anglo American's 'Underlying earnings' as it is considered to be part of the profit or loss ondisposal, however this amount is included in Anglo Platinum's 'Headlineearnings' as defined by the Johannesburg Securities Exchange (JSE). Anglo American will report annual results for the year ended 31 December 2006 on21 February 2007. The above figures are unaudited. Underlying Earnings Underlying Earnings is net profit attributable to equity shareholders, adjustedfor the effect of special items and remeasurements, and any related tax andminority interests. Special items include those items of financial performancewhich the Group believes should be excluded from underlying financialperformance, and principally relate to impairment and significant closure costs,exceptional legal provisions and profit or loss on disposals. Remeasurementsinclude adjustments to ensure that the unrealised gains or losses on non-hedgederivative instruments are recorded in underlying earnings in the same period asthe underlying transaction against which these instruments provide an economic,but not formally designated, hedge. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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