Anglo Platinum expects 2001 earnings to exceed market expectations
30 January, 2002
Anglo American plc wishes to draw shareholders' attention to the following announcement made by Anglo Platinum this morning:
"Anglo Platinum expects 2001 earnings to exceed market expectations
Anglo Platinum wishes to announce that it estimates headline earnings for the year ended 31 December 2001 to be R8 billion (US$930 million) as a result of the significant weakening of the Rand over the 2001 financial year and in particular during December 2001.
Anglo Platinum sells its products in dollars and headline earnings are increased if, during the course of the year, the exchange rate weakens before dollar revenues are converted to Rand. In addition headline earnings have been affected by the increase in the Rand value of dollar-based assets valued at year-end closing exchange rates.
The Company will release its 2001 results on Tuesday 19 February 2002.
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The information contained in press releases, annual or interim reports, analyst presentations, and financial information should not be deemed accurate or current except as of the date of issue. Anglo American plc does not, does not intend to, and specifically disclaims any duty to, update or correct such information.