Anglo American reports record interim results for 2004, up 52%
09 August, 2004
- Record first half headline earnings(1) of $1.3 billion, an increase of 52% over corresponding period in 2003
- Total profit for the period up 125% to $1.7 billion
- Cash generation (EBITDA) (1) up 40% at $3.4 billion
- Interim dividend increased from 15 cents to 19 cents
- Record Base Metals performance – headline earnings increased sevenfold to $455 million
- Ferrous Metals, Coal and Platinum benefited from higher prices; demand for rough diamonds remained firm. Steady performances from Industrial Minerals and Paper and Packaging
- South African earnings negatively impacted by strong rand
- Cost and efficiency improvements resulted in total cost savings of $248 million
- Merger of AngloGold and Ashanti completed in April
- Ongoing development of $6 billion project pipeline
- Non-core disposals of $1.3 billion, including 20% stake in Gold Fields for $1.18 billion
- Global economic conditions remain positive for commodities
(1) See definitions beneath the financial highlights table in the full press release.
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