Anglo American plc notification: Kumba Iron Ore Limited results 2007
14 February, 2008
Anglo American wishes to draw attention to Kumba Iron Ore Limited's announcement of their results for the year ended 31 December 2007.
Anglo American wishes to draw attention to Kumba Iron Ore Limited's announcement of their results for the year ended 31 December 2007.
Anglo American will report underlying earnings in respect of Kumba Iron Ore Limited of US$274 million for the year ended 31 December 2007, which takes into account certain adjustments.
| Kumba Iron Ore Limited | $m |
|---|---|
| IFRS headline earnings (US dollar equivalent of published) | 434 |
| Other | 7 |
| 441 | |
| Minority interest | (155) |
| Depreciation of assets fair valued on acquisition (net of tax) | (12) |
| Contribution to Anglo American plc underlying earnings | 274 |
Anglo American will report results for the year ended 31 December 2007 on 20 February 2008. The above figures are unaudited
Underlying 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 underlying financial performance, and principally relate to impairment and significant closure costs, exceptional legal provisions and profit or loss on disposals. Remeasurements include adjustments to ensure that the unrealised gains or losses on non-hedge derivative instruments are recorded in underlying earnings in the same period as the underlying transaction against which these instruments provide an economic, but not formally designated, hedge.